I was having this discussion the other day.
To me it's not even close.
I'm the biggest fan of The Dolphins over any team including any team in college football but I'd rather watch college football any day over an NFL game.
The players are hungrier and the games are much more intense and competetive IMO. These kids play for pride representing their colleges and for the chance to someday get paid to play the game.
Free Agency in the NFL, while helping to keep the league even has killed one aspect of the game that made it so exciting before and that's TRUE rivalry.
In college, you are who you are and you feel that pride deep. If you're a Miami Hurricane, an Ohio State Buckeye, a Michigan Wolverine, an Oklahoma Sooner, whatever team you are that team defines you.
Players would fight simply to defend the honor of their team.
That level of intensity and rivalry used to be in the NFL until the Salary cap and FA arrived. You don't really have the same intensity as players for the Dolphins may play for the Jets or Patriots the very next year.
I understand why FA and the Salary cap was instituted in the NFL but I can't ignore how it's taken away from the NFL either.