As someone with experience using both services, I'm strongly in support of Fantrax for more reasons than just that it's nearly half the cost. The live scoring is much better/quicker and the interface is much more intuitive. I also find the projections and rankings to be more current and trustworthy in Fantrax.
If there is anyone who hasn't used MFL, I urge you to scope it out before the vote. It's a really robust platform, but the navigation is confusing as hell and looks like it hasn't been updated in over a decade. I like it for certain reasons and more complex leagues than ours, but it took me a few years to really understand how to find my way around their site FWIW.