bluetooth is not ment to be a wireless lan system, it's supposed to be used for small devices that only need limited amounts of transfer speed (I think 768 Kbps is the max of BT and I dont even kno if that's duplex or single channel) it's intended to replace cables, at a very limited amount of energy, I dont see any use for 802.11 in a wireless headset, it would consume far too much energy and space wherase bluetooth can be kept compact and low on anergy usage, and scince it's never far away from the other device it is no problem with the mimited range, range will never go over 2 to 3 metres (6 to 9 feet)
they're not competitive products, except for one market, PDA's PDA syncronising can be done with both BT as well as WiFI but there I think you just need to decide wether u need speed or not, because 768 Kbps is only 96 KB/s which will be awfully slow to transfer data to your CF card, so there I would say WiFi is the way to go.