In terms of detection of position in space, the Move is clearly superior to the Wii, but what about when using the Move as lightgun/pointing device? Does it work better then the Wii or does it have issues precision, lag, drift or whatever? Does it provide lightgun-like 1:1 mapping or just relative movement like the Wii (i.e. you control a cursor on screen instead of directly aiming at objects on the screen)?

You should check out the dead space extraction quick look.

Already done that. I was more interesting in peoples first hand experience with it and direct comparison with the Wiimote. From pure video its hard to tell how bad the lag, precision, etc. is.

It's really precise. I don't know if it's completely 1:1, but it's pretty damn close.