Neither has really impacted filmmaking (at least not yet, anyway). They can both be very good at what they do but what they do doesn't tend to be all that original. In fact, it's pretty ordinary.
Sure, Jaws is credited with creating the summer blockbuster but that had nothing to do with how films are made and everything to do with how they are marketed.
Should 3D turn out to have a lasting impact on how films are made then Cameron would probably be in line for a good deal of the credit (or blame, depending on who you ask) but at this point it's way too early to tell.
As for whose movies are better, Spielberg by a pretty decent margin.
Cameron has made some pretty good movies but most of them are pretty similar to one another and their similarities are only compounded by their relatively small numbers. While Spielberg's films may not be all that original they do tend to be very well made, have a decent amount of depth (when he decides to go that way) and he has a much wider range.
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