My ex has both of these and likes his Cobre Libre better than his fleshlight, but he likes his Tenga Flip Hole better than either of those toys. I'm not sure which fleshlight he has though, there are so many of them now.
This is kind of a apples to oranges comparison. The Fleshlight's are a stroking type toy whereas the Cobra is a insert and enjoy the vibe type toy. Not all guys will get off on just vibrations but all most all will get off from stroking.
My bf and I are long-distance at the moment. I've been thinking of getting him a fleshlight for quite a while. So that he has something to keep him warm while I'm away...