I invite all my faithful readers to weigh in on this most vital debate.
The Tale Of The Tape:

Birth Name: Leonidas Frank Chaney
Nickname: Man Of A Thousand Faces
Trademark: Master of early makeup techniques
Born: April 1, 1883
Height: 5'9"
Films: 161, including The Hunchback Of Notre Dame (1923), The Phantom Of The Opera (1925) and Laugh, Clown, Laugh (1928)
Katie Awards: 1 win for Best Actor of 1927-28, 1 nomination for Best Actor Of The Silent Era
Other Awards: twice commemorated on U.S. stamps; first actor to be made honorary member of U.S. Marine Corps for his portrayal of a drill instructor in Tell It To The Marines (1926)
Other Achievements: directed 6 movies, wrote 6
Marriages: 2
Famous Children: Lon Chaney, Jr.
Salary: $3,750 per week The Unholy Three (1930)

Birth Name: Douglas Elton Thomas Ullman
Born: May 23, 1883
Trademark: Stunt work
Height: 5'9"
Films: 49, including The Mark Of Zorro (1920), The Thief Of Bagdad (1924) and The Gaucho (1927)
Katie Awards: 1 nomination for Best Actor Of The Silent Era
Other Awards: Honorary Oscar (1940); Photoplay's Medal of Honor for Robin Hood (1922)
Other Achievements: co-founded United Artists, first president of AMPAS, produced 24 movies, wrote 18, directed 2.
Marriages: 3, including to Katie Award winner Mary Pickford
Famous Children: Douglas Fairbanks, Jr.
Salary: $300,000 for Reaching For The Moon (1930)
Analysis: The film record indicates Chaney had tremendous upper body strength and likely could have carried anybody's saddlebags, let alone Fairbanks's. On the other hand, I have yet to see any movie where Fairbanks began a scene in a bag, so I can't say definitively whether he ever acted his way out of one. He did make one movie with Mary Pickford, though, 1929's The Taming Of The Shrew, so draw your own conclusions.
My personal opinion? A well-rounded film collection contains the work of both.
Keep it clean, gents.