It depends on the city. Nationally I don't think theres a difference in prestige, but one is more prestigeous than the other in many cities.
I'm a Kiwanian. Where I live, Rotary was always bigger but Kiwanis was the first to allow women as full-fledged members. As a result, we had some smoking-hot women in Kiwanis. All the local loan officers and administrators and non-profit women. When Rotary finally caught up and allowed women, the only ones they could get were either old or fat. Advantage Kiwanis.
As for alcohol consumption / Christmas parties, the Rotary Christmas party has the old dudes taking underpriviledged children on a shopping trip to WalMart. Alcohol-free. The Kiwanis Christmas party, on the other hand, is simply a dinner at the golf course clubhouse, so a cash bar is available. Nobody overdoes it, thought. Since the Rotarians are such do-gooders, I'd say thats a draw.
As for community service, Rotary spends all their money on scholarships and the local Sister-City program with Japan. Kiwanis, on the other hand sponsors the local Chrismas parade, child literacy programs, gives free books (retired library books) away at various public places, and reads to the kindergarten classes at the local schools every week. Kiwanis also has scholarships, but half as many as Rotary. Advantage Kiwanis.
As for strictness, dues are about the same. But if you miss a Rotary meeting you have to attend another Rotary meeting in another town or you are assessed a monetary fine. If you miss a Kiwanis Club meeting, everybody is cool with that as long as you pay your dues. But Rotary has tons more members who attend every meeting. I'd say thats a draw.