The Cree has a narrow (75˚) viewing angle compared to the Seoul. This gives it good spill when used with a reflector.
The Seoul (SSC) has a wide (180˚) viewing angle and is almost a direct swap for older Luxeon emitters, requiring only a .030 spacer underneath.
Both have high efficiency.
I guess it depends on what you mean by "good spill".
I think of a reflector as a device which steals the outer edges of the beam and converts it into a hotspot. The spill is actually the part of the LED beam which isn't bounced off the reflector.
With a Cree XR-E, the light is already concentrated into a narrowish (75 degree) natural beam. So, since the output of an XR-E is naturally rather concentrated, the spill of the beam tends to be fairly bright. A reflector needs to be fairly deep in order to steal the outside edge of the beam. This leaves a fairly narrow spill. Also, the XR-Es don't have a very consistent light output at the edges of their beam (I suspect this is due to the raised metal ring of the packaging) so the generated hotspot tends to be ringy.
So, in summary, the Cree XR-E lights tend to have narrower, brighter spills on the hotspot. The hotspot will be smooth only if the reflector is textured.
The SSC P4, by contrast, has a wider natural beam. Because the natural beam is so wide, the spill isn't as bright as a Cree XR-E. However, this also means the reflector doesn't need to be as deep to create a good hotspot. Also, the P4 has a much more consistent light output at the edges. Also, as mentioned before, the XR-E packaging seems to have better heat dissipation capability than the P4.
So, in summary, the SSC P4 lights tend to have wider, dimmer spills on the hotspot. If a smooth reflector is used on both types of lights, the P4 light will have a smoother hotspot than the XR-E light.
Another factor is (as mentioned by others) the XR-E packaging has better thermal transfer capability than the P4, so the XR-E is slightly better for high power applications than the P4.
I think it's a matter of personal preference which one you prefer. If you prefer lights with wide spills, then the P4 SSC is a better choice. If you prefer more focused lights with less spill, than the Cree is a better choice.
Personally, I prefer the SSC P4 for headlamp mods, because the wider spill is nicer for close-up work and also for better peripheral vision. For flashlights, either the SSC P4 or Cree are fine with me, depending on my mood.
Toshi