As many know both CubeTwist and Rubik's/MegaHouse came out with "universal" bandaged 3x3x3 cubes at about the same time. Here is a bit of a look at both sets side by side.
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First off you'll notice that the Rubik's cube comes with plastic tiles permanently attached while the CubeTwist cube is completely blank. Also the Rubik's cube comes with much fewer bandaging tiles. It just has 3 2x2 tiles, 3 1x2 tiles, and 3 1x3 tiles, 1 each in white, red, and green. It also comes with full sets of 9 yellow and blue 1x1 tiles. I'm not really sure of the purpose of these 1x1 tiles since the cube already has permanent tiles on it. I am a bit surprised that this cube uses the yellow opposite white color scheme since it is for the Japanese market which typically gets blue opposite white. Perhaps these tiles are to allow them to switch color schemes. Alternatively you could also set up 2 yellow and/or 2 blue sides but one would never be confused between a regular permanent blue tile and another with a blue cap on it since they look different enough.
As mentioned above the CubeTwist cube is a blank slate to start with. And they include a ton more bandaging tiles. You get 1 2x3 tiles, 1 2x2 tiles, 2 1x3 tiles 4 1x2 tiles, and 9 1x1 tiles in each of the 6 colors. For the most part this is the maximum number of tiles you could use with the exception of the 1x3. They only included 2 when they really should have included 3.
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The method for attaching the tiles to each cube is very different. The Rubik's cube uses caps that snap over the permanently attached tiles. The CubeTwist tiles have pegs sort of like Lego pieces which fit into the holes in the cubies. One of the few advantages of the Rubik's cube is that you can easily pop the caps off with your finger while it is easier to use a spudger tool with the CubeTwist tiles. You can find cheap spudgers on eBay, I got 4 for $5 with free shipping. A disadvantage of the Rubik's cube with the easier to take off caps is that they can accidentally pop off while solving a puzzle.
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Another difference is the overall quality/polish of the puzzles. The Rubik's cube does feel like a nicer, high quality product. The tiles for the CubeTwist puzzle have noticeable flashing and mold lines and just don't feel as nice. They are not terrible and I have much lower quality puzzles in my collection, but the Rubik's product is a noticeable notch above.
Overall, despite the better quality feel of the Rubik's cube I recommend the CubeTwist one instead simply due to the almost complete set of bandaging tiles. I still don't know why they shorted out on the 1x3 tiles so this would lose a half a star if I was giving it a rating for not being as complete as it could have been. Also, they both cost about the same amount but the CubeTwist one is much easier to buy. The Rubik's one is hard to purchase at this time if you are not in Japan.
Now I hope CubeTwist continues on with "universal" 4x4x4 and 5x5x5 cubes