Looked at the two reels today.  I felt the mg was light and less bulky in feel.  bb1 felt smoother.  I want this rod for cranking and was wondering what lews owners felt about the two

i have a BB1 sitting under the tree, i'll tell you about it soon enough!!  having felt both in hand, i liked the feel of the bb1.  it's well known for a great cranking reel so i don't think you'd be disappointed.  

Definitely the Bb1

I love my MG but I couldn't really tell you because I haven't tried the other.

Depends on the weight of your lures I guess.  I have a BB1 Pro and an SS1HL (which is the same basic frame and spool size as the MG but with less braking options and overall sexiness)  The BB1 has a wider spool that is great to accommodate lots of big line like heavy braid etc, but I feel detracts from castability on lighter baits.  The MG has a smaller spool and rounder feel in palm as well as great casting...  Heck even my cheaper version I really really like and is my cranking setup reel.  Super smooth for sure.  I do love my BB1 for frogs, jigs and heavier baits but I do find that it lags with lighter baits- much to do with the line choice but still...  The smaller reel casts lighter baits better.    

 

 

If I was putting together a lighter cranking combo I'd go MG and roll the money I saved into line or some sick lures to throw with it.  Deep water stuff or big baits I might lean BB1 more but for the stated use in the OP I'd go MG personally.        

BB1, you wont be sorry