I have both and would pick having the the Discatcher Sport over the Mach Lite. I've had my sport for about 4 years and it's still like new ... and I leave it outside year round here in the high mountains of CO.
I added inner chains to mine (around $20-25 bucks), after a year or so and it catches as well as more expensive baskets (I have a couple of those now too).
I do like having the Mach Lite when I go to tourneys so I can set up a practice basket anywhere, anytime. It does not catch discs as well as the Discatcher ... It's not bad ... but not as good. It's in my car year-round.
Like everyone has said ... depends on what you will use it most for. Traveling, or at home practicing?
I like the idea of portability but it sounds like in terms of longevity that the Discatcher would be my best bet for the money, and it's seems like the discatcher is somewhat portable just not as much so as the Mach Lite. But of course the Mach Lite makes an exceptional Christmas tree, does anyone know how the Discatcher stacks up in this catagory? LOL! Thanks for the input guys, I can't wait to get my basket and start practicing those puts!