Yes, I have both. I purchased a Contrail for my sister a couple of years ago but I have used it also.
The Contrail is of course lighter. I found it harder to get in and out of the Contrail and in order to sit up I would have to scoot back from my sleeping postion. (The roofline slopes from high at the entrance to low at the foot. ) I found it to be a little more fussy to set up.
For me the additional weight of the Rainbow over the Contrail is worth the extra luxury. The Contrail is still a good tent and I found it to be quite storm worthy. The Rainbow - more so.