At this point in their careers, who would you choose? I criticized Utah's draft pick when they took Deron Williams (at #3) instead of Paul (chosen at #4). But, the more I watch him the more I think he's definitely better than Chris Paul. He's also lucky to be playing for one of the best coaches ever as he'll only get better because of it. I think Williams is definitely one of the most underrated players in the league. He has a great feel for the game and a high basketball IQ. Of course, to be fair to Chris Paul, he doesn't have the teammates Williams has. Plus, injuries hindered him this year.
I believe it depends upon the style of basketball you prefer to play. On a running team, I'd take Paul in a slight edge over Williams because of his playmaking ability and his edge in quickness. In a half-court game, no doubt I'd take Williams in a landslide. His bigger size, plus his ability to get his own shot off and execute an offense give him the edge here. His defense is also quite superior to that of Paul's. Kinda biased opinion here because I used to ball with Deron, Bracey, Daniel, and Chris, so take my opinion as a very biased one.
Paul better passer and ball handler. Deron a better scorer and defender. Both are great players. I would pick whichever one would suit my team.