Cashmere Mafia wins. Spoilers included. I really don't think there's room for 2 "sex in the city" type shows on primetime. Or they both can disappear because they both are not that good. I do not particularly like the cashmere mafia's storyline of the failed engagement or lesbian coming out. On the secondhand the lipstick jungle's storyline about the billionaire, affair with the younger man to be rather tactless.
The real problem to me is none of the casts in both tv series click. They seem odd and rather awkward. I voted cashmere because there is slightly better chemistry but the problem is the writing. There's an horrible pause inbetween transitions and I don't want to go over the storyline because you have Boston Legal and Big shots which is written much better but rather ridiculous in reality.