I flew from Cochin - Colombo - London in Sri Lankan in Sep and returned by Dec. What I have to say is a mixed reaction to their services.
The Cabin crew members are really good. The food is also good.
In flight entertainment - though they claim to have many channels and options, most of them were not working when I travelled.
About a better service from Emirates, both are (owned) managed by same company and cannot expect a wide difference in one of them. They have something called Skyward scheme for frequent flyers.
When I went to their London office, the office staff there were not polite nor helpful to get me a 3 nights visit visa to their country!!!
May be because I am tall - 63 - the leg space seems to be too little, especially for such a long distance flights....
I think, overall, it was value for money travel for me.