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I'm on both, but prefer Goodreads. I'm not sure why, maybe because I found reading groups easier. I did find a quick link to signing up as an author on goodreads and I've heard you can do the same on library thing, but I've never found it. Okay, I haven't looked that hard.
I have done reviews on both and I think good reads is quicker. You can leave a short comment or two or just a reminder of why you liked the book. Or stars and no comments. When I did one on library thing, there are all kinds of forms. You don't have to fill them out, but there's a form for character names, settings, adding info...it's not a bad feature, but it's not something I want to really spend a lot of time on.
They're both useful although mostly I think I track my favorite books on my own blog. I keep a list there and usually have a one line comment. I have it segmented into cozies, mysteries, fantasy, and so on--and it's very quick for me to go grab my favorites and pass them along to someone when they ask.
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