Nope, both were of equal quality. The main difference between them is the Comp-Lite has chainstays that were 16.7" long (could be 16.65, forgive me if I'm off by .05").
The M16 had shorter chainstays that were, well, I'll let you figure out how long they were.
The M16 was meant to be a better climber with the shorter stays and the Comp-Lite had chainstays that were designed for more "all-around" geometry. I've heard from one person that they found it slightly squirrely on descents but I can't confirm that either way.
Take a look at mtbr for this thread on the M16 http://forums.mtbr.com/showthread.php?t=339526
. The guy there has a pretty cool and all around pretty bike, don't 'cha agree?
Don't hesitate to ask if you have more questions. Do you have a chance for both bikes or are you going to be sly until you complete the sale