1I've been writing on Squidoo for about six months and have enjoyed it, but monetizing my content has not come as quickly as I'd hoped.
Squidoo puts a great deal of emphasis on creating content that is unique and personal in some way. The "lens workshop" is rich with features and there are a lot of tricks of the trade that can be learned through the lensmaster forum and also from lenses written to help new lensmasters.
There is a great deal of community involvement on Squidoo, which is a plus, although I'm finding that Hubpages also has an active community.
With my experience on Squidoo, it didn't take much to figure out Hubpages. Creating hubs is pretty easy, and it doesn't seem like there are quite as many options or features to select from, which can be a good thing if you want fewer distractions. Squidoo lenses can get pretty long and sort of "all over the place" with regard to content. The hubs I've visited tend to be a little more focused and not quite as lengthy.
I'm encouraged by the fact that I immediately started earning income on Hubpages, even if just a few cents. It took months to do that on Squidoo. Seems like with the latter you need to either be extremely prolific or smart/lucky enough to figure out what kind of content will draw traffic. Both sites offer income earning opportunities through affiliate programs.(Another impression is that many of the high-traffic and potentially income-generating lenses on Squidoo tend to be ABOUT how to make money on Squidoo.)
I plan to continue to participate on both sites. I enjoy writing about whatever topics I have interest in and the ability to publish at the click of a button.
Hope this answer helps.