We're looking to setup a new forum and would like some opinions on both pieces of software.

InvisionBoard now has higher pricing than Vbulletin so I'm leaning a bit to IBF.

What are the pros/cons of both?

Well personally i like Vbulletin it just seems to be more professional, possibly because until recently InvisionBoard has been a free board. There is one feature i like in invisionboard that doesnt seem to be in VB and that is that you can set it up so that people can only access certain forums if they use a specific url to get to them.

Invisionboard probably has more free skins available for modifying it if you are interested in that sort of thing

All in all though they are both good pieces of software

go for vbb

After trying out a demo (admincp) on the vB site my opinions have totally changed.

It appears that are also alot more features, and also looks like support is better.

If I had to decide, I would go for vB