I played a bunch of Martins (D-15s) and Taylors (200 series) in roughly the same price range.
It's less expensive for Taylor to make a three ply laminated back/side than use solid wood. Solid wood requires thicker pieces which results in more waste (thinner pieces you can more efficiently use the wood and produce less waste). Martin makes similar cost cutting measures, but often in different places (the Martins I played had solid wood back and sides but fake ebony fretboards for example). Both were nice sounding and playing guitars, but I found that some of the Taylors sounded a little better to my ears.
So then I directly compared Taylor 214 (laminated b/s) and 214DLX (laminated b/s with different top bracing and finish) , 314 (solid wood b/s), and 414 guitars (solid wood b/s). There wasn't really a 'this is clearly better' among them. They were all different sounding guitars and I liked different models for different stuff. I liked the sound of the standard 214 the least - it had a brightness that I couldn't control especially when playing with a pick. The 214DLX sounded better than the solid wood 314 for the stuff I play. The laminated guitar had a clearer sounding fundamental and responded better to hard strumming, and had a more delicate sound when finger picked. I think that the 414 sounded a tiny bit nicer (something different in the upper mids) than the 214 DLX for both. Unfortunately, Taylor changes the width of the neck on the 300 and up series, going from a 1 11/16ths nut to 1 3/4s. I guess that many folks like this, but it makes them less comfortable to play to me. So I ended up going with a laminated Taylor 214 DLX and have been very happy with it.
What surprised me most was that laminated didn't mean worse. The laminated taylors were WAY nicer than some of the cheaper solid wood guitars I played.