Now granted the ruger is a much nicer gun, with a matching price. But if you could choose between the two which route would you go?

I've never shot a Ruger No. 1 and don't know if they're any faster on reloads (yes, I know neither are going to be 'fast' by any standards). Seems both triggers leave a little to be desired...and while the ruger is downright sexy you could get another barrel or two for the NEF and still be in the same money.