One feature where banshee beats rhythmbox is to import iTunes library. If rhythmbox had done that, it would had been so better given their UI is inspired from iTunes.
Google lead to me couple of sites & one had an python script which unfortunately didn't work for me. So, I decided to do things on my own and for my good both iTunes & rhythmbox use XML files to save library info. That made my life easier.
xsltproc iTunes_to_rhythm.xsl "iTunes Music Library.xml" > rhythmdb.xml
Finally place the file in ~/.local/share/rhythmbox folder and start rhythmbox.