I'm with Rach3 on this one. The Liszt sonata is NOWHERE NEAR, not even in the same GALAXY, as Op. 111, let alone Opp. 109 or 110 -- or numerous other Beethoven sonatas. Liszt was a good composer, yes, but he was a much better pianist. Beethoven was a good pianist, but he was a much better composer. There is no comparison here, unless you are more concerned with flashy fingerwork than with musical content, which I have come to accept that many, if not most, of the posters here are. Yes, Lizst's sonata is a great piece -- but in terms of musical content, emotional content, "importance," and everything besides technical flash (which still, Op. 111 does not lack -- just check out those double trills in the Arietta), Op. 111 wins out by a landslide at every turn.
Yes, this is "just my opinion," but it's also just my opinion that, say, fondu tastes better than McDonald's -- some opinions are more informed and learned than others.