Having been to both, I think the food is a little better at Liberty Tree Tavern. You should check out the menus at All Ears, that could be your deciding factor.
Enjoyed Tony's for lunch but am trying out LTT in Feb 08, so no decision for you ... but you should check the menu as another suggested. They are quite different from each other. Have fun ... I will have an opinion in Feb --
We've eaten at both, and I think LTT has much better food. However, when we went, LTT was pretty crowded and Tony's was pretty empty -- this might or might not speak to the comparable food quality -- but if waiting or noise are issues for you, then you might want to consider that as well.
My vote goes to LTT without even needing to think about it. We tried TTS for dinner, and was not impressed in the least. LTT (we had an early lunch there) and the food was delicious and the service was very good.
I have had both and Toni's is a favorite! I do love the LTT as well though! The turkey is great! But the steak was wonderful at Toni's...the apple butter at LTT is awsome!...while the tiramisu at Toni's is great!