Pushing Keepass vault to cloud storage:
* No per-item synchronisation
* Full control over encryption of the database
* Choice of cloud storage to trust with vault
* Free as in beer if no using cloud (or using a free/already paid for offering)
1Password:
* Per-item sync and collaboration
* Full trust on the (closed-source) client apps over encryption of vault
* No choice of cloud
* No choice of encryption
* Mandatory paying subscription