I sort-of tried to address this question briefly in another thread:
http://www.chiefdelphi.com/forums/sh...8&postcount=14
Basically, they are both equally capable programming languages. Some people prefer C++ because procedural programming is more familiar to them. Don't dismiss LabVIEW as a toy-language just because it's "programmed visually".
Personally, I'm going with LabVIEW since it tends to be more syntactically forgiving and more intuitive (and hopefully easier to teach).