Having been to both countries and eaten & cooked both cuisines, I'd have to say they are equal for different reasons. One of the things the French do best is sauces, and to me, a great sauce can retrieve an otherwise bland meal (not that I've ever had a bland French meal). But their sauces are a work of art.
On the other hand, Veal Marsala, Osso Bucco, Italian pizzas (sans cheese!), and espresso are to die for. I love Italian, except for the pasta, which I find feh
However, some of their pasta sauces are wonderful, redeeming the pasty dishes.
I don't like heavy food, so if you eat French food, you won't get that, as a rule. With Italian, I just order or eat less as I find their food to be extremely filling.
But they're both delicious.
Okay, that's my 2 cents' worth.