Yeah 1Password is pretty awful when you consider the amount of features you get with LastPass like multi-factor authentication. 1Password relies on Dropbox. Your passwords are all stored on your computer. Granted they're in an encrypted format, but if you have a jerk for a room mate they could copy your encrypted files, key log your vault password, and have access to all your passwords.
On the other hand, if you get my LastPass password you better have my grid too (I keep it online so I can access it wherever, password protected). Additionally LastPass is working on SMS codes for login.