ASS is considered superior to SRT in terms of formatting capabilities. ASS files support advanced features like multiple fonts, colors, precise positioning, and special effects, making them ideal for projects requiring stylized subtitles. On the other hand, SRT files are simpler and more universally supported, making them a good choice for basic subtitle needs and compatibility across different media players and devices. The choice between ASS and SRT depends on your specific needs for subtitle styling and compatibility.