Ahhhh, robinrivers, my favorite question!
I've got several of both: The Strat is more versatile in the tone-department and usually a little lighter in weight. You can get a wide range of tones out of it with the right amp. And the Strat shape just fits better to a human body. The Tele player needs to become one with the instrument over a longer time. It sounds more mellow, but at the same time can also deliver quite a sting with the bridge pickup. Its neck pickup is just ideal for the Blues, but overall the Tele is always a little mellow, whereas the Strat "chimes" almost bell-like and can deliver real "hard-rock" punches. Since you have 5 pickup combinations on the regular Strat, vs. 3 settings on the Tele, I call the Strat "more versatile", it just lends itself to a wider range of music.
My new Tele was hanging on the wall for a couple of years, because I didn't have the right amp for it to shine. Now I've got a Fender 59 Bassman LTD Reissue amp, and this amp just brings out all the power that was hiding in the Tele. With just two pickups and three switch settings, I can still dial in a whole scope of tones. I believe I also had to warm up to the guitar and grow up to play it more expressively. It seems very responsive now, but maybe that's due to the amp.
You might find that the Strat seems more "refined" in its design and overall sound, but the Tele sounds more "honest" -that's why I use it almost exclusively for the Blues. Have fun, and thank you for your post!