Galaxy S is far better. The Super AMOLED is gorgeous! I do not like Sense. The giant clock that takes up 1/3 of the home screen is a big turn-off.
Just compare how many Galaxy S were sold and how many Incredible were sold should give you some hint on which one is more preferable by the general public.
And frankly, if you have not bought a phone yet, you should not be comparing the new Incredible S with the old Galaxy S. Instead, you should be comparing the Galaxy S II which is coming out in a few weeks. That phone will beat any other phone.