Body Paint is really good about file formats. It works smoothly with Photoshop files, Lightwave files, OBJ, 3DS and lot's more. It is also the only one of the two that will run on both Mac and PC. The interactive mapping in Body Paint is absolutly kick butt and really speeds up the mapping process. And the bottom line, Body Paint is half to one-third the cost of Deep Paint depending upon the configuration. Another bonus of Body Paint is that you get the C4D rendering engine with it, which is really nice. So that gives you yet another option for rendering out images, the abillity to "surface bake" procedural shaders into texture maps, abillity to render out tileable material maps from painted textures, and so much more. Both are fantastic programs with more painting and UV mapping tools than you could get tired of. But they both offer a significanlty different workflow and set of features beyond the primary "mapping and painting" functions, so do look into those opportunities from each program as well. Best of luck!