I think Boards is just better than Reddit at this point, at least for purposes of LoL discussion.
+ I like the potential of Boards markup.
- ...but it's hella buggy and brittle.
+ Chronological view feature is a big upgrade for returning to previously read posts.
- ...but it drops post context, turning out to be pretty low value in many threads.
+ Integrated sub-boards quite a bit nicer than loosely related subreddits for LoL.
+ Redtracker quite useful.
- Boards search feature is nowhere near as good as Reddit.
- Reddit moderation is much clearer and more consistent.
- Reddit offers more post sorts and seems better at getting me the content I want. Possibly this is a function of there being more content I want on Reddit?
- Massive Reddit userbase dwarfs Boards userbase. Network effects are legit.
- Boards login is more painful and less stable than Reddit login.
- "Show more" is way, way worse than the Reddit equivalent.
- No RESTful API for either threads or boards, makes it hard to find stuff that isn't on the first couple pages.
I would say that Boards have potential to meet or even surpass Reddit, but they're nowhere close to as functional today.