They both were local/came to 'fame' in Miami/Ft. Lauderdale on WSVN 7. Sanchez was the lead anchor and Smith was always just a reporter/occasional anchor, granted a good one. I believe Smith left for Fox News in the late 90's and Rick didn't move till 2003 or 2004.
Shepard is the better guy. First, he has the better on-air slip up (Jennifer Lopez and block party). Second, he can sleep soundly at night. Sanchez was involved in DUI leaving a Dolphins game when he struck an also intoxicated pedistrian, that later died from complications. http://en.wikipedia.org/wiki/Rick_Sanchez