As a typography, print & web designer making a transition away from that industry towards sign and decal work, I can offer a bit of a different perspective to those programs, having worked with both of them relentlessly since they were in their v3 release of both programs.
They both have their virtues and downfalls, and one program, regardless of what it is, will never do every job better than the other programs. I am more comfortable with FreeHand, and have been for many years. I feel that it is a far superior program for typography control and alteration. Illustrator lacks too many detail adjustments and controls with type for me to be happy with it's type handling.
On the other hand, Illustrator is not only a suite product with Photoshop (which for me is a very valuable benefit), but it is a cleaner program with Bezier curves and object handling. Without getting too complicated, it does a few more things than FreeHand does with basic shapes. It is a very strong tool, but many times I find myself pulling my hair out working in Illustrator because there are things that you cannot control or change that FreeHand handles with ease.
I can do anything with FreeHand that my co-workers can do with Illustrator, and in many cases, much quicker and with less keystrokes or clicks. They are both very good programs (the best vector-based programs in my opinion), and export the same types of files. I go between the two with the same files all the time, though you need to export FH files as older AI files for Illustrator to read them correctly. Why, I don't know.
The black and white of it is, they will both work great for your needs. The best scenario is to have both, which I do. Don't get stuck on one program, you get pigeon-holed. Learn as many pieces of software as you can, it will only make you a more well-rounded craftsman.
doug