Depends on what you want from your phone to be honest.
SIZE Both are pretty much the same size 4.3" screens qhd vs SLCD, bionic has more pixel density vs the TBolt, but at the same time that will make icons text smaller etc. I don't know about you but 4.3 inches is already small enough, so I don't need my icons/text even smaller :d.
HARDWARE
Processor - Single core on the Tbolt but it's from a 2nd or is it 3rd gen snap dragon processor clocked @ 1ghz (I've been able to run @ 2ghz for benching for the lulz.) But for every day usage 1.2-1.4 is good enough imo. Bionic dual core tegra clocked @ 1ghz and here is where the whole "more cores = better" arguement comes into place, and with this statement I ask you to take a look at todays hardware and software, honestly besides rendering ,and graphics design, image editing what applications and few select handful of games will actualy utilize dual, quad , hex to their fullest? Dual core is a fading standard soon to be replaced by quad eventhough there isn't much out there that will even utilize 4 + cores (note i'm talking about everyday users not enterprise servers/use). Android 2.2 and most applications on the market will not even gain any benefit, and if they do it will be quite marginal from the extra core the Bionic has to offer. Will 2.3 offer dual core support? We'll just have to wait and see, even if GB does support DC we'll still need app developers that will actually take the extra time to code for DC.
The fact is there are still several smart phones that are coming out that are still utilizing a single core processors, so I really wouldn't let the whole single core vs dual core influence your decision here. Yes there are going to people and reviews saying omg single core obsolete, let's face it dual core phones just recently have been introduced, eventhough the tegras have been out for awhile, it will take TIME before the dual cores come properly utilized. Also don't let quadrant and smart bench and neocore readings influence your purchase as well as they truly do not reflect the performance of your phone (although some do swear it does but I'd rather not go down this road it's my own personal opinion).
At this point I personally feel that software needs to be optimized for all the android phones, better hardware acceleration is needed. Hell I was playing w/ a xoom at the vzw store and the scrolling was still jerky and not buttery smooth as you'd think it would be w/ the dual core processor, even w/ the honeycomb optimizations. My friend at work has the atrix and I compared my stock TB to his stock Atrix and there is practically no difference at all in scroll speeds etc, and we played the same games and notice pratically no difference in performance. They also say dual core = better battery life etc etc, I'm not going to even bother opening that can of worms since battery life on ALL smartphones in general blows. So in the end it's up to you if you want the processor to be the deciding factor (I personally was torn by this decision as well) it comes down to 2nd 3rd gen single core snapdragon processor vs 1st gen (for phones) Tegra (not 100% about this) I know the tegra has been around for awhile, but not sure how long it's been implemented into the mobile market for smart phones.
RAM - It's stated that the Bionic has 512 MB of DDR 2 RAM vs the TBolts 768 MB of DDR (not sure if its 1 or 2) if it's standard DDR vs 2 then the whole arguement of amount of ram vs speed of RAM comes into play. I know for computers DDR2 generally has speeds up to 10.6 GB per s vs 6.4 GB/s w/ DDR 1, DDR2 generally will be better w/ heat and power consumption as well, but hell what do we have on our smartphones will be that intensive anyways? I know people say to do 1080p video playback flawlessly you need dual core blah blah which is bs in my opinion (again personal opinion since i dont notice any stuttering when playing back via DLNA, don't want to open this can of worms as well).
Cameras - Both are 8MP back facing both have dual LED flash. Both have front facing TB has 1.3MP vs the .3 MP on the bionic. I could care less about front facing camera, but to each their own. Both do have great back facing cameras.
Storage - This is the main thing that pisses me off about the T-Bolt the fact that it only has like 2.32 GB of internal memory (from 8GB) available, but it comes w/ a 32 GB class 4 SD Card (which you get about 29.71 GB) so that makes up for it a bit. But losing so much space due to all the trashy HTC bloat and VZW bloat = fail. Bionic 16 GB interal but doesnt come w/ a SD card, not sure how much space will be available after all of moto/vzws trash is installed.
Sound Quality - I must say I am impressed w/ the sound quality from my T-bolt the back speaker is loud and crisp, even at lower volumes and the kickstand makes this phone optimal for view videos (netflix soon pl0x). As for the Bionic, I can't really judge that but from my friends atrix if they are going to be similar the back speaker isn't that loud at all, but sound quality from the earpiece is excellent as well, which is to be expected from Motorola)
Software
Okay this is the major factor in my opinion, are you going to root or use the phone stock? If you are going to use the phone stock it's pretty much the decision of HTC Sense vs Moto Blur I personally dislike both (cept for the clock/weather widget from sense). Both are designed for soical networking although blur looks like it was designed by a preschooler w/ the color scheming. Sense has another nice feature pinching the screen to have the 7 windows that + skins, but that can easily be achieved w/ a home replacement program like ADW launcher. Now here is where HTC has the advantage vs Motorola. The fact that HTC's bootloader has been cracked will allow for true custom roms and custom kernels for voltage tweaking and overclocking (which can lead to better perfromance and battery life). With HTC phones (when RIL gets fixed) you will be able to load up AOSP ROMS which means you won't have to wait for HTC to release software updates, and if you're not a fan of sense you wont have all the extra bloat, that and it allows developers to customize more. Motorola's bootloader is locked so you cannot load custom kernels, or use AOSP ROMS, and you rely on Motorla for software updates before you can get anything new. Also if Moto stops developing software updates for the Bionic, you're pretty much SOL. But that might not be a huge issue since most people like to upgrade every 1 - 1/2 years anyways. If you want full custom software go for the TBolt, if you don't care then either phone will suffice. To my knowledge moto's bootloader to date has not been cracked, and it seems like the Bionic will be locked down even harder than the x, d2 and d2-g, so who knows if we'll be able to even root the phone, only time will tell.
Well in the end the choice is truly yours, but I hope my rant has help shed some light on your decision. pz banana man :icon_ banana:.