Rendering a verdict in the Toshiba vs ASUS laptops battle is not easy. As you can see above, they both are very similar, and both score well in the areas of design, build quality, value and reliability.
This forces me to split the verdict. If you have some money to spend and you want a very nice PC laptop, ASUS is often a good choice. Their gaming laptops, Bamboo series laptops and U series ultraportables are all great options. ASUS is also to offer excellent battery life in its ultraportables, so users wanting a laptop that's good for travel will prefer ASUS.
On the other hand, Toshiba offers a better value. When comparing ASUS and Toshiba laptops with similar hardware you'll often find the Toshiba to be less expensive. It may not look as good, but it will be reliable, quick and inexpensive.
Your choice depends on what you're looking for, but if you're clear about the type of laptop you're looking for you should be able to decide between these brands easily.
Smidgen PC: Squaretrade Reliability Report
Consumer Reports: Consumer Reports Online (Members Only)