In my opinion Zambia is the better of the two countries around the Vic Falls (Mosi-oa-Tunya). But time of the year is crucial depending on the rains which generally start around late October. We went once a month after the rains and the water coming over the falls was so great it made thick mist you couldn't see the falls.
Royal Livingstone is a top quality place and the last hotel (i may be mistaken) before the falls. I has private access to the falls which means skipping all the street vendors. Prepare to get hassled beyond belief as the vendors will try and sell you anything. Prices of carvings and gifts are three times higher than those vendors in the town.
We did white water rafting, did the falls and tiger fishing....all a must in my book. The Zambians are friendly people and there is plenty to do in the area.
Both Chobe and the Lower Zambezi are fantastic for wildlife. I think and again I may be mistaken if you want to go into the Chobe you have to cross into Bots which means going through Kazangula and that place my friend you want avoid at all costs. I hate that border post, chaos in it's purest form!
Have fun and send pics when you get a chance!