I'll take off my sales hat and put on my auto writer fedora.
I agree with Clay and Tim that overall the F150 is the better truck. It's got a nicer interior, more comfort as far as seats and layout, and will be more reliable. The only pluses to a Dodge is the beefy looks (09+), the ride is very good, and the engine is extremely powerful.
The Dodge feels very much like a truck (sit more upright inside, bigger windows all around, etc.) The Ford does a nice job of keeping the utility of a truck, but it doesn't feel like you are driving one. Best of both worlds, so to speak.
Towing, according to some quick research, goes to Ford. Depending on how it's equipped, it can tow anywhere from 7700-10600 lbs. compared to 5000-8500 lbs. of the Ram (Feel free to double-check me on the Ram).
What it's going to come down to is you going out and driving both to see what fits YOU best. We can all go back and forth on what we think is a better truck, but it's your decision. The only way to do that is to get out and put your hands on each of them.