I tested both and found the footpod the most accurate. It can take a bit of tweaking to get the calibration just right, and will be best set up on a running track over several laps. I use neither device now since my running is made up of: more, less, faster, slower, rest and race.
I don't rate GPS on account of the fact that due to lost and blocked signals innacuracies are guaranteed. Its a fact whether their fans like it or not. On a straight rosd, running in desert A to B over about 20 miles they will accurate to 10 metres. Twisting and turning routes in the woods and very built up areas will find out their inherent weakness. The signal is not the same as the one in your phone.
As for footpods, I had a Timex SDM which has two problems, the first was the footpod weighing two ounces unbalanced the shoes, the other was that the on/off switch was on top of the device which meant that a heavy footstrike could actually switch the thing off. The switch should have been orientated 90 degrees to avoid this. The watch which came with this device was really good on its own, so I used this as a stopwatch until I accidently destroyed it when not realising it wasn't water proof went swimming with it on.