Reading this, I get the impression that some people haven't seen much of either player.
While I'm not going to claim I've watched a lot of both, because I haven't. But with what I've read, and what I've seen, some are missing the boat.
First, How can there be any debate on who's faster? Ovechkin won the fastest skater competition breaking the Record on a European Rink (technically breaking the NHL record too, but I won't debate that...) and correct me if I'm wrong, but I think Malkin was at that game where the skate took place. If he's faster than Ovechkin, why didn't he win? He might be 'graceful' or have quick strides, but he's not faster.
Secondly, how has Malkin all of a sudden earned the title of being strong and physical? He looks like a rail a lot of the time. Everyone would agree (even himself) that he still needs to add a good 15 pounds of muscle. In the NHL, where there is still clutching and grabbing, he's going to get pushed off the puck. That's assuming he comes over next season (if there is one). My bet is, he won't, staying in Russia, till he matures. Yes, he's shown he isn't afraid of contact, but that doesn't make you physical. Semin isn't afraid of contact, but he isn't ever going to be considered physical (Speaking of Semin, he's deceptively fast, but not sure if he's got the gamebreaking speed other players do, he never showed it that often in Washington) And how is Malkin better than Ovechkin when it comes to strength and physicality? Some of you talk like Ovechkin's a one legged midget. Ovechkin's a well built 6'1+, and doesn't need a whole lot more muscle to be effective against men 5-10 years his senior. He'll probably add a bit, but doesn't exactly look like he needs a few more meals to fill out his jersey.
I think the implication is still that Malkin could be a better player down the road... and that might be true. But to say he's got more vision, more passing is a bit of a knock on Ovechkin, who has both of those qualities in decent amounts. He just goes for the finish more often then not. Whoever said it earlier in this thread said it best, Ovechkin's pretty much ready for the NHL if it started tomorrow, Malkin could use a year or two of seasoning. Both still have vast potential as well.