I own both the above and in my opinion the Smith is the better of the two by a little bit.

The single action trigger on the CP88 is heavier. Double action is about the same, but the Smith feels "meatier" and more satisfying. The Smith's trigger blade is more comfortable which helps a lot.

Of the two I own, I think the Smith is slightly more powerful but I haven't chronoed it.

The accuracy is similar, nothing in it really.

Open sights on the Smith are better. Fully adjustable and with a better sight picture. There are even different width foresights available like on a proper match pistol (although nobody would claim the Smith is one). Optical sight mounting is easier and looks better. Optical sights on auto styled pistols just look wrong (IMHO of course).

The Smith feels slightly better built.