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DV kind of covered everything but here's my take.
Both are very nice towns. Both have good schools.
East Brunswick has a slightly better location in general, especially if you work to the north, South Brunswick is good if you work to the south or in the Princeton area.
For transportation, I agree with DV, but I would add that depending where you are in SB, some people drive to the Jersey Avenue station and take the train from there (which is a stop in New Brunswick). In EB, I've heard of people taking the train from Metuchen (getting dropped off though, not driving, hard to get a spot there).
South Brunswick is much bigger and has sections (Kendall Park, Dayton, Monmouth Junction, etc). Not necessarily better or worse.
The one thing I would add, but this would be for any town, is to try to buy a 3 br townhouse if you can. Always a better resale than a 2 br.
Good luck!
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