Action - V for Vendetta. Not only is it better than Batman Begins, but it's also one of the best, most visceral choreographed fight scenes I've seen in quite a while.
Acting - Batman Begins. Yes, might seem like sacrilige to some of you. The only shining performance in V for Vendetta was Hugo Weaving as V (ironic considering he was the only one without a face) while the rest were pretty monotone and wooden. Natalie Portman's was very much uneven across the board. Whereas Batman Begins had an all-round stronger showing by Neeson, Bale, Oldman, Murphy and Caine with some nice comic relief by Morgan Freeman to boot.
Screnplay - This one's an easy win for V. I need not even mention why. Smart writing all around.
Story - Batman Begins. A major cause for this is the fact that V for Vendetta's story had been incredibly "dumbed down" from the graphic novel iteration. It was no longer as complex and intriguing but rather fairly simple and straightforward. There are a few moments where the film really shines (such as during the Valerie subplot and any instance where the film is faithful to it's source material), but for a film about an increasingly complicated subject, it's often a self-parody of itself with it's pretentiously limited portrayal of the good and evil forces in the film and this really takes the snap out of the story. Plus the political references are so damned obvious, a 6-year old can easily figure them out. While Batman Begins scores for moving at a brisk pace inspite of a longer running time, a more involving story, having more soulful and fleshed out characters and a much more human and relatable protagonist.
Cinematography - Batman Begins by a mile. V for Vendetta was clearly shot on a limited budget and it shows. Where Batman has lush vistas and great all-encompassing wide angle shots, V for Vendetta is noticeably cramped and claustrophopic. The color palette is also less attractive and often, quite dull compared to Batman Begins.
Music - Again Batman Begins. Dario Marianelli's score is downright beautiful at times (most notably during Valerie's story) and Beethoven's symphonies are hard to beat anyway. But Batman Begins again has a better balanced score that is equally emotional, edgy, atmospheric and heroic at the same time. Guess it pays to have two high profile composers collaborating on your film.
Direction - James McTiegue's first foray into filmmaking as a director is definitely worthy of high praise, but Nolan shows that being a seasoned veteran with more than 3 films and 7 years of directorial experience under his belt has more than it's fair share of advantages.
Batman Begins for the win.
And if I might add, I noticed that V for Vendetta really loses a lot of steam after repeated viewing while the exact opposite is true for Batman Begins. The first time I saw V for Vendetta, I'd probably have rated it a solid 9 out of 10 but the more I see this film, the less I like it.