Stainless can be polished to look a lot like chrome, the difference being it's a yellower shade, more like nickel plating. Depending on the particular "stainless", it won't rust, or will rust a lot slower than chrome plated carbon steel.
Chromium is very hard, and although the actual chrome layer on chrome plated steel is very thin, it's resistant to scratching, so wiping off road grime will dull it a lot slower than polished stainless. On the other hand, stainless can be re-polished relatively easily if it gets dull.
Stainless can be repaired by welding cracks and re-polishing, for example. It's harder to repair a chrome pipe without it showing. Stainless work hardens, and under severe vibration can crack easier than chrome plated carbon steel.
Overall, my personal preference is stainless.
(typed in parallel with Kentktk)
