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The wasrcolls for both heroes(lord-celestant and drakesworn templar) have been released throughout the web prior to initiation of official pre-order.

Despite its massive bulk(and price of course ), the basic melee weapon of the Stardrake isn't overwhelming, 4 attacks with 3+ to hit, 3+ to wound, rend -1 and d3 damage.
The behemoth however has plethora of special rules optimised for taking out horde units.
Its ranged attack can either devastate a single unit, or inflict mortal wounds on 6 units maximum.
Whereas the tail attack is suitable for inflicting mortal wounds on large-size units, the cavernous jaws attack can insta-kill models with 5 or less wounds.
The downside is that the Stardrake itself isn't an efficient warmachine for taking out monsters, quite contrary to what its fluff indicates.

As for the riders, the lord-celestant has the upper hand when it comes to defensive capabilities.
With basic 3+ save and re-rolling 1's, the lord-celestant boasts impressive defensive power.
And there is an icing on the cake. For every roll of 1's that is re-rolled and results in successful save, every enemy unit within 3" of the model suffer a single mortal wound.
The command ability allows all stardrakes and dracoths in the army re-roll failed to wound rolls, a handy power to boost extremis chamber themed army.

While the drakesworn templar lack the defensive power of the lord-celestant, it has one weapon that can handle what stardrakes are not good at taking out : Monsters.
A to hit roll of 6 or more from stormlance can deal d6 mortal wounds on a monster,
The templar can also take skybolt bow, which adds +1 to hit rolls of friendly dracothian guard against the target of the bow should it find its mark.
However, other melee weapons available to templar are slightly worse than those in lord-celestant's arsenal.
Finally, although the templar doesn't have command ability that boosts the models from chamber extremis, it does boost bravery characteristic of any stormcast units nearby.

If I were to purchase one in near-future, I'm tempted to assemble mine into lord-celestant with Celestine Hammer(3 attacks, 3+ hit, 2+ wound, rend -1, d3 damage, +d3 attacks on charge).
Templar's stormlance is tempting as it allows the stardrake hero to counter its archenemies(monsters), but monsters can be taken out by other tools in my army.
For example, I can 'teleport' retributors via lightning strike or knight-vexillor's standard. Celestant-Prime is an excellent alternative too.

The stardrake is ideal for crushing large size units composed of models with low number of wounds.
In this sense lord-celestant's defensive capabilities, higher number of attacks(with celestine hammer), better chance of wounding(2+) would perform better than the templar's limited offensive capability against monsters.
The defensive skill itself also adds up the lord-celestant's offensive power as successful re-rolls inflict mortal wounds.
Hence my choice of lord-celestant on stardrake over the drakesworn templar.

Deleted as I misunderstood the nature of the question. Move along good people!

Well the Stormlance is good, but it is only 3 attacks which gives you only a 50% chance to score a 6 on the to-hit and even then you will also need to roll 3+ on the to-wound in order to inflict those d6 mortal wounds (and not taking in account that you may roll poorlyy on the d6).

So it is not that simple to utilize the Stormlance. All in all I think that the Celestant choice is the best choice anyway due to its higher survivability which is important for such a model that will have a huge target on it from turn one.

I would take the lord celestant with the storm bound blade as it has 2 damage as opposed to the d3. Tactically I wouldn't make him my warlord, he would only serve other Extremis units anyway. The celestant on foot is by far the best warlord Stormcast have so far when combined with a big unit of retributiors.
The star drake would best be served as a distraction going up o the worst thing on the opponents deployment zone