Karl,
We have both systems at our shop at I had the same question. So I called both companies at got their "spin" on the situation.
POF says (and when taking them apart its apparent) that LWRC copied the first version of their 223/5.56 gas piston system. They made a couple minor changes but in the end it (to my eyes) looks identical.
POF has since modified their system and made it more durable. By this I mean instead of "screwing into the top of the bolt carrier" it is machined as part of it. Adamms Arms and other conversion systems I have seen currently are screwed onto the bolt carrier. The company that I know of currently copying the new system is CMMG. POF and CMMG are the only two currently that I have seen that machine the carrier specifically for the gas piston operation. We had one of those in the shop and the bolt and gas system looks identical to POF's.
LWRC says they took existing technology and made it better. However to my eyes and the others in the shop, they copied the first system and didn't make the same changes that POF did to make it better.
I would buy a POF if I wanted all the extra's. If I wanted a base gas piston I would hit up CMMG and rock one of their systems then set it up the way I wanted.
LWRC does a nice job putting all the extra's on your weapon system for you (magpull grip, quad rail with covers, flip up sights, vltor stock, mag pull trigger guard, anodizing or what they do and so on) however you can do all that stuff yourself and pick up a better system (in my opinion) with the CMMG for around $1600.
LWRC's average around $2300 - $2500. Also both LWRC's we had in our shop had the infamous AR "wobble". For $2500 it better come with the shim or I would expect they take the time to make sure that the upper and lower are matched and fit tightly.
Another one you might want to look at is the Robinson Armament.
For around $1700 you get a side folding and six posistion single, point break down, no buffer tube, left side charging handle, gas piston, full railed beast.
After looking at all these options daily it is the system that I decided to buy. The major selling factor for me what that in under 5 minutes I can swap the bolt and barrel system and shoot 223/7.62x39/6.8/6.5. That is in theory at least, I'm still waiting for them to catch up and ship my 7.62x39 barrel and bolt kit. It takes AR mags, AR grips and thats about it. I have dumped 2k rounds through mine and adjusted the gas at around 500 rounds. I shoot crappy wolf and whatever else I want through this thing and she hasnt hiccuped yet. Yes I know steel is harder on the extractors but I was able to get another one of those from Robinson and so far have not had a need for it.
I will be picking up a POF in .308 as they are the nicest in that caliber for AR platforms that I have seen. I say in that platform because currently I'm in love with M1A/M14's and starting a love affair with DSA Fal's. One day.... One day I will own them all.. Currently my LRB JAE stocked M1a and the Vltor Stocked Socom II are consuming all my time and money. It's both a blessing and a curse have Smith Enterprises local as I have taken them both down there recently and given him all my money to make them even more special.
If I DIDNT own a Robinson Armament gas piston in .223 already, I would probably pick up a CMMG gas piston set up and then config it the way I liked.
Hope that helps you even a tiny bit.