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In recent areas they are almost considered equals. Not sure who cares about prestige anymore
When I was at D on the federal side 5+ years ago, they were viewed as comparable by folks lower down the totem pole.
Of course, there were the normal variables--their tenure at that level, their portfolio, all that stuff, but that would've also applied to comparing one principal to another.
At the time, directors had higher MR targets and lower sales targets than principals, but I found out here that that is no longer the case, they have similar targets for both.
MD has a higher up front cash comp than P, but they don't have the long term equity upside.
Frankly, my standpoint when I was there was that as a smaller cog in the machine I tended to give more gravitas to the directors, since they were on the ground actually executing the work (in my anecdotal experience), while the principals rarely got their hands dirty and spent the vast majority of their time selling work rather than executing it.