I would choose the sport if you don't have to move it around much. One of my friends has one and it is cumbersome to pack in the car and also you have to take it apart, all 40 lbs. of it! The sport is more realistic and alot better if you plan on leaving it outside like I see a lot of people do because there is no fabric to weather.
The Mach Lite is a great portable basket because it only weighs 20-25 pounds, and the top and catch pan fold down so it is way easier to take with you.
The price is somewhat different between the two. I guess it really depends on how "portable" you want it to be. The mach lite and the skill shot are a little more compairable and both are very portable. I like to be able to set mine up quick between rounds away from the ruckus of everyone else and putt. Once I'm done I don't want anything bigger and heavier than what I need. My vote goes to the Mach for a true portable, and the sport for semi-portable.
The Sport will last much longer. Its only weak point is the bead weld where the basket connects to the center posts. Our club has had to re-weld it a couple times. Still I consider it a real workhorse over the long haul. Plus you can modify it with some extra inner chains.
I just got a sport, and it's been a game changer for me. I don't think it's all that hard to move, and it assembles with four screws. I recommend getting one of those Stanley brand flashlights that have the tri-pod legs too. It makes for really great night practice when you place one right under the basket. I'll probably add some chains as I've had my gumbputt bounce off the center post once or twice. ... probably operator error though....
Discgolfcenter.com has free shipping on the Sport too.