I've been playing a fair bit of Ricky Pontings of late and got cricket 07 yesterday.
RPIC is definitely easier to pick up and be good at IMO, particularly if you use the century stick thing batting wise in Cricket 07 which is a bit of an acquired skill.
Depth wise, Cricket 07 is better with more competitions, teams and players. Official licences in all game modes is nice also.
Presentation wise, both are good, but very different. Player likeness is better in Cricket 07, while some of the animations in RPIC are very good.
Honestly, I like them both for different reasons. RPIC is a really good arcadey type game while cricket 07 is more simulation like.
Side note - Cricket 07 is a LOT better than EA's last effort which was abysmal