Each college has different IB/AP policy. So make sure that you check school's website for the policy. More selected schools tend to treat both equally. The lesser ones don't know IB that well.
I stole this from a CC thread:
"Another consideration to keep in mind is that the more selective colleges often give college credit only for IB classes taken at the �Higher Level� (�HL� in IB lingo). IB students take three classes at that level and the rest at the Standard Level (�SL�). Some colleges give credit only for IB exam scores of 7 (the top); some for lower scores. Thus, even the most outstanding students may only get college credit in three areas, while AP students could end up with credit in many more subjects, depending on how many AP classes the student takes, how he fares on the exams, and what the college�s credit policy is. Some parents and students report that they have to jump through more hoops for IB credit than for AP credit, especially when students are not at the most selective colleges. In any case, once you start investigating AP and IB credit policies, you may feel like you need Cal Tech degree just to figure it all out. Each college seems to somehow manage to come up with an AP/IB credit-awarding system that is just a tad different than the next guy�s!"