I think there are at least a few of us fortunate enough to have had both the First Sound and Supratek preamps in our systems at various times, and in all fairness I should preface my remarks by saying it seems to be a split decision on which is "better." I recall reading somewhere in these forums--perhaps it was in this same thread, many chapters back--that one member definitely preferred the First Sound, and I believe he had the same iteration I had, which was the Presence Deluxe Mk2. While I very definitely admired the characterics of the First Sound, in the end I found that I preferred the Syrah, a judgment that comes with all the usual qualifiers (in my system, according to my listening preferences, etc.).
So my impressions, for whatever they're worth:
First of all, I thought the First Sound had absolutely stunning dynamics, jaw-dropping as the cliche goes, but an apt description of my reaction the first time I heard the unit. Another quality I admired was the First Sound's uncanny black background, much better in this regard than the Supratek (although I have found that if you are very patient, you can do wonders lowering the noise floor with the Supratek with various tweaks--isolation is really important, as are finding the right tubes, of course. My Syrah is quiet now, but still not as eerily quiet as the First Sound was).
On the other hand, and I guess this is where the battle will be joined, over time I just felt that there was something not quite right with the First Sound in my system. While I continued to be impressed with the slam and absolute clarity of the First Sound, I felt that the soundstage was somehow slightly more compressed than I would want from a tube preamp. Granted, I had solid state amps--Bel Canto EVO 200.2 monoblocks for awhile, and then a Plinius SA-102--and the issue may be entirely one of synergy. But I can also say that I traded notes with another owner of a First Sound--who also admired it--and he had pretty much the same take on it in his system. He eventually moved to a Joule preamp, and said the soundstage was much more layered, more holographic, with the Joule which is just how I felt when I moved over to the Supratek.
For me, the Supratek, properly matched, tweaked, and tubed, simply gets the music right more than any other preamp I have heard. It strikes the right balance between dynamics and slam, crossed with the liquidity and magic of tubes. I have lived with it for a couple of years now, and the only time I ever think of upgrading is when Mick comes out with his latest and greatest. But with two kids--including a newborn--I doubt I will be upgrading anything any time soon, unless it is my spending priorities. That's OK, though. As long as I have the Supratek around, I'll be happy as a clam.
If it is practical for you, I suggest you try both in your system and keep the one you like best. Should be a cinch to sell the runner-up. Was for me.