I disagree with the reply above. I made the same switch as the original poster is considering, for some of the same reasons. I am fully committed to public health research and epidemiology. However, after taking the required MPH course in Society and Health, I realized these courses had absolutely no value to me, that the material could easily be learned from wikipedia, and that the exams were an exercise in rote memorization.
There are dozens of unique, cutting-edge courses in Epidemiology and Biostatistics at HSPH (particularly if you are able to take courses in the regular academic term). Learning this material on your own would be next to impossible, so taking these courses will make you a much better medical scientist.
Like I said, I made the same switch. For me, it was definitely the right move. Not having to take courses in environmental health, health management or ethics freed up credits to take a bunch of very interesting and useful courses in epidemiology. Do not underestimate how important it is to be interested in the material you are learning, this will make a huge difference in terms of how much you get out of a course.
My guess is that, for a physician, MPH is a somewhat more prestigious degree than SM. This may be a slight advantage early in your career, when you are applying for residency and fellowships. However, if you are serious about academic medicine, later in your career you will be judged based on the quality of your papers. If writing quality papers is your goal, there is no question that you can get more out of the SM1 curriculum.