For the past couple of months DREAM has been getting all the love and most have written off World Victory Road as a second-tier promotion. Certainly DREAM.1 got more hype on the blogs than WVR's debut Sengoku event.
But now that both events have happened, I don't think many would say the DREAM event was head and shoulders better than Sengoku.
DREAM.1 got mixed reviews at best for fight quality, but much more importantly, the TV ratings for DREAM were awful:
Most importantly though, it looks like WVR has scored a network TV deal with Fuji, the network that carried PRIDE until scandal forced them to drop the promotion. Personally I think more big events are a good thing. I also think DREAM carries a bit of the stink of K-1's fucked upness about it. With a network TV deal, WVR can compete with DREAM on an equal footing. I expect the better organization will win.