The rankings of the production rods usually rank Heddon rods above South Bend rods. The Heddon #20 is usually considered to be a pretty good rod, one which I would like to have.
Having said that, I do have an 8'6" South Bend #346 and it is a very nice rod that is very enjoyable to fish.
If the Heddon is a Stanley Favorite is should be worth much more than an unmarked model according to one ten year old buying guide I have here. The dated guide shows the Heddon average price to be $30 more than the South Bend.
I have several nine foot Grangers so I'm usually looking for shorter rods. If I had a choice between two rods in similar condition for the same price, I would choose the Heddon, especially if it was a #20 and probably a #14 too. But I would not be unhappy if I had to settle for a SB #323 or #346.