You know, its so IN to insult Jay Leno, but the fact of the matter is he's out there every bloody night with fresh material and he's charming.
Dave and Conan have better monalogues.
Dave and Conan have better comedy bits (except for Headlines, really)
And Conan is the better interviewer (guests just seem more relaxed with him).
Oh, and the Max Weinberg 7 > j00.