I like them both and still incorporate both into my life. There are things about bodybuilding that i definitely didn't like though..
number one, would have to be the judging. There's a reason why it's NOT a bodybuilding competition, it's a bodybuilding SHOW. The judging is so damn subjective. I always made it a habit of going up to the judges after a show to ask what i needed to work on. I would get 100 different things from a hundred different judges- each wanting something different. i also didn't like the tension backstage. everyone was the enemy. everyone else was sizing you up and giving you the ol' stink eye. in powerlifting the judging is much much more objective.. for the most part and the competitors for the most part are all very supportive.
also, i really hated the dieting down. it was a major mental shock to watch yourself basically waste away to what appeared to be nothing to get really lean and with it a majority of your strength. most folks and folks that call themselves bodybuilders have never gotten themselves down to single digit bodyfat percentages. it's so grueling and to do it natural is even harder.
with that said.. i will probably do another bodybuilding show again:) i'm a glutton for punishment.