Surely some of you have used one or the other, please comment.

Both seem to have their advantages,

OR has a good rep but does not mention water resistance, I like the bug treatment and light color(dont care if it shows dirt). The few user reviews I find claim they are water proof, if true this would be my choice.

On the other hand MLD claims totally water proof and the low weight and uber packability are very attractive. The black color however is enough of a sunny day show stopper I'd likely get some Dirtygirl fair weather gaiters-right after I checkout my other idea: scrunchies.