It's been discussed a few times in the past. If you search for EAC and Ripping, you might find it. (Though, eac might turn up too many times... as parts of other words.)
I think on the EAC site, there's a link to a program that creates a test CD with exact instructions for damaging it for testing.
I think that the conclusions from the past discussions were that on a non-damaged CD, that there was no difference between the two. And that for damaged CDs, there again was probably little difference and that in some ways MC was better. They've added a few more features to MCs ripping in MC 10, including offset adjustment, if you desire it. And one other thing from memory was that cache size handling for multiple reads was potentially done better in MC.
The biggest thing that I've found in both cases, is that cleaning CDs before ripping makes a huge difference.
Oh yeah, the other difference between the two programs is that MC uses YADB (which seems to be improving recently) and EAC uses FreeDB.
In the end, I decided that I couldn't prove that either was definitely better than the other, and the simplicity/ease of using MC has won out.
kiwi