I use both as an outer layer during midseason, depending on conditions. The Peloton 240 is nowhere near the Stratus for wind blocking. The Stratus is also thicker, heavier, and warmer. The Peloton breathes a lot better when you're moving, as you'd expect based on the previous two sentences. Both are quiet.
The Peloton 240 works for me as an outer on low wind days when temps are maybe 45-60. I wouldn't move much in it in those temps, but when colder it works as a good hiking layer and then a mid under a puffy when I get stopped.
It has to be really cold for me to want to walk around in the Stratus, unless I'm moving at a snail's pace. I love having a full blaze orange jacket that's quiet and fairly warm for later in the year though. And there's nothing I've tried from Kuiu or First Lite that touches the Stratus for combining near silence with usable wind stopping.