I used both on my rig. I put Rust Bullet on my frame, but after seeing some negative reviews, I went with POR-15 for everything else. Even the base-coat on my body is POR-15. It might have been overkill given that I live in the mountains of a desert, but I figured what the heck.
I will say this, though: I had a leak of brake fluid from the MC once. It spilled onto many surfaces. Some of which were covered with Rust Bullet, and some with POR-15. Like many other paints, the brake fluid at through the POR-15 easily. However - it didn't touch the Bullet. Just some food for thought about resistance to chemicals.
But as far as which is better against rust? I don't know. Like I said, it is pretty dry here and the salt isn't used that heavily. I did see some reports on this forum indicating that Rust Bullet wasn't that great in the long run, though.