I have both and can tell you that they are two of my most very favorite knives.
As with most questions about,
"Which is the better/best knife?" The answer depends on what you are going to do with the knife. Tougher? In what regard? They both enjoy the same INFI and heat treat. The aspect ratio of the NO is thicker so I would assume it would withstand stresses about its longitudinal axis better and would likely be a better pry bar. With that said, they are both more than tough enough for just about whatever can be reasonably expected of a knife and, because they are Busses, even what would likely be considered unreasonable for most knives.
While they can both chop, pry, dig, beat or be beat (baton), I would lean towards the NO only as I have had more experience in these activities with it and its aspect ratio is hearty.
While they can both cut, skin, prepare food and serve as a general camp and sportsmans blade, I would lean towards the Satin Jack in that regard mainly because of style, and handle design. Not that I haven't used the clever finger relief at the choil of my NO to choke up and do all of the aforementioned tasks, it's just that I purchased the SJ more with these uses in mind.
Tactical: again, either knife will do. I have carried the NO in my SOB (Kenny Rowe) sheath and felt very comfortable with that chunk of INFI behind me, (literally and figuratively). But, I would have to say, that the shape of the SJ lends itself more to most fighting moves than the NO. This is based upon aspect ratio, handle and overall balance.
I hope I haven't suffuciently confused you so that you purchase neither; but rather, I hope I have talked you into both.
Bottom line, unless you are doing something so far removed from anything that I have mentioned here, both knives will support those functions with more than sufficient margin. It just depends on which you like. I knmow that is not a very scientific answer, but both knives are just so capable that you will not go wrong either way.
ADDED TEXT FOR ANDREW: He's right, (as usual), handle both and see which you like better before buying both.
Edited for spelling, grammer and Andrew.