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I need a mobile armor killer in my army. Which is better? For 150 points I can have 3 MM attack bikes; for 160 points I can have 2 dual MM Tornados. Maybe each have their advantages?

why not take both since both are cheap. I would change the LS to have MM/HF instead.

Which do you think looks cooler? Both do the same job in slightly different ways. Which one is "better" has a lot to do with little things like how terrain is deployed, what the rest of your army is like, who you are playing, etc. I think on paper the bikes have a slight edge. But I love the way speeders look, so I own and field them. From a model standpoint, the speeders offer a lot more flexibility if you need something besides fast melta in your army. 10 seconds and my spare weapons box and I can have the long range fire support of a typhoon/HB speeder. While you can field HB attack bike squads, you don't see them that often in lists. And I'm not sure how easy it is to do weapon swaps on that kit, as mine are old and lead.

I'd say the bike, T5 with 2 wounds and if going second you can get first blood, run a squad of 2 of them which would have got me first blood if I had not lost my dread stright away!.

For 80points and getting first blood is worthwhile, I have just bought another two to run in a part bike army

Have yet to use the LS though, but its counted a AV right? for the cost I would go for 2 bikes

I recon speeder as you can leap it forward to ambush with those MMs, or use deepstrike.

First blood means I would prefer multiple attack bikes, as I think they are harder to kill in general for first blood. Though either are very good.
Do not under estimate double heavy flamer or typhoons.

With blood angels I would always go for the attack bikes, FNP on toughness 5 is pretty great and they can protect a priest on a bike quite well also with furious charge they become reasonable at the risky assault.