I don't know if you could say one or the other. Palmer wasn't really on anyone's board till he showed out at Senior Bowl practice. My guess is his ability was just hidden by abysmal qb play and offense production. Had he been in a more productive offense, like Clemson for example, he may have been a 1000 yard receiver and ended up getting drafted much earlier.
I wouldn't read too much into who is better because one guy was selected a few picks in front of the other when they both went in the 3rd round.