The cedar top will give a warmer sound than the spruce top. So it depends on what you want really. I had two S&P guitars and both gave fine service and had a nice sound - they have since been replaced by a hand made guitar because I didn't think the big names really offered a substantial improvement for the outlay.

Some friends of mine have a Freshman with a "traditional" style body. It has a spruce top and Indian rosewood back and sides. It sounds and plays very nicely and was only about £500 (my S&P guitars cost me £330). The Freshmans can be supplied with pickups etc.