Well i think that both have their good side, and bad side. american cartoons, look at GI Joe, He-man, the smurfs, the Flinstons( anything by hana-barbara), Looney Tunes. Those are house hold names. Anime is not to that level yet. It is not mainstream enough for Disney to worry, Disney will continue to put out movies and make bucket loads of cash off of it because that's what sells. Simple stories that everyone can follow. Not a complex overly complicated story that can get confusing due to crappy translations.
I like Japanese cartoons and American. The problem i have with the anime craze is that 99% of it is forgetible and to much the same.
I like Macross stuff(not macross 7), Princess Mononoke', Spirited Away, Akira, Ghost in the Shell, Wings of Hommenaise(sp?) and that's about it.
As far as american cartoons, I like GI Joe, Stuff by Ralph Bakshi and Don Bluth. If you want to see smooth realistic animation, look at theses guys work.