The main difference between them is that beast has higher attack damage, but libido has higher def/hp.
Pros of beast: Things die faster, higher level pets have defense debuffs that are good for swords.
Cons: they die faster.
Pros of libido: they take less damage, and have more HP, several having poison resistance debuffs, good if you use poison damage gems and rings, but not for much else.
libido pets:
Tarantula: Is generally named as the best 1st pet due to poison effect of attacks which makes things die faster. Has more HP/Def than Grewpain, but it's base attack is lower.
Aldebaran: Has a lot of HP and def, plus physical resistance that further decreases damage taken, has a stunning attack that lasts for 2 seconds, % chance of it happening every attack.
Tentator: Loads of HP/Def, attack has poison debuff special which is mostly only good for staff summoners, but it does help if you use poison gems/ rings. Sword summies have 1 poison based attack.
Anathema: Exorbitant amounts of HP/ Def, attack has all resistance debuff, plus another special attack that is an AOE, and can only be cast every once in a while.
Musepel: Insane HP/ Def, has stunning effect similar to aldebaran, but better, also has high physical resistance, making him great for absorbing damage. he has a special attack that deals AOE damage, and causes nearby mobs to attack him. Great tank if you can't find a party with one in it.
Beast pets:
Grewpain: Nothing really special, has an ice attack that slows down movement/ attack speed, but overall is considered very weak.
Regulous: Has decent damage, and a special ability that slows down movement speed (to 0% i believe) but most consider that of the Aldebaran to be better.
Selaime: Does fire damage, which has a chance of having a poison-like affect that drains HP slowly over time. Decent HP, not as much as tentator, but hits harder.
Bregon: The beast mode summon, right here. Has debuff special attack that reduces opponent's defense, along with doing massive damage. Has a special like Anathema's that does AOE damage, but more of it.
Agares: One bad mofo, he hits hardest out of all summons, and still has enough HP/ Def to last in extended battles. Overall an awesome death machine.
My friend and i once decided to pit each summons against each other, beast VS libido.
All our pet-related skill levels were the same.
Tarantula beat Grewpain, hands down.
Aldebaran beat Regulous, both times we tried it.
Selaime beat Tentator, but only just barely.
Anathema beat Bregon, i was a little surprised.
Musepel completely destroyed Agares, had it stunned a lot.
In Pet VS Pet battles, libido has the cake, but beast will speed up training by a little bit.
Personally i used Libido till i had last pet, then reskilled and took both trees, but only added points to last one, but lots of people do beast. Simply preference.
The pet masteries... don't bother past level 1. Not that great.
Lol, just wrote a miniguide on pets....