Depends what you want to do. USyd IT is a lot more technical, its basically a specialised advanced science degree, which means you need to do maths and software development in first year. From there, it really depends on what you want to do. If you want to do information systems and management in general, most would say UTS is strong in that it has the industry links. USyd's 'claim to fame' is that it covers both the technical and information/business aspects of IT, while most other uni BIT degrees are a lot more broader. Take a look at the majors offered by both, you will see USyd has a greater variety; software development, principles of computer science, information systems, multimedia, networks, digital design, computational science, language technology (ONLY BIT students can do a language technology major at usyd).
Look at the UTS BIT (
http://www.handbook.uts.edu.au/it/ug/c10143.html#F22) and you'll see its a lot more broad and business oriented, with a pretty much strict program you need to follow. Usyd has a lot of flexibility, you can do a lot of subjects from other disciplines in science (or even other faculties if you wish).
My opinion. They say USyd's BIT is developed to produce the futures managers and leader. Whether true or not only time can tell i guess.