Third person. First person only works in potboiler noiresque thrillers. There, it works beautifully. Everywhere else, it seems like a pathetic cheat to bumrush a story line.
The answer to this question depends on what I am writing. My first and third books are in the third person. The second book explores loyalty where an alienated Chinese-American high school student suddenly discovers China. Chinese spies play on his new found love for China and through the use of the first person, we can see how his concept of loyalty evolves. The teacher, Rick Podowski, is also in the first person and we see how he wrestles between loyalty to the country and loyalty to the students.
I do not have a preference...however, when I am writing memoirs, which are my speciality-I use first person with imagery to convey the story.
Since I am writing mostly poetry at the moment, first person narrative is my general style, but the other narratives figure into the writing, too.
Third person, of course. At one point in my stories, I like to switch points of view from one character to another in order to develop the whole plot.
First person, itís more believable for me.
I like first person if it is done well. I am working on a novel at present which rotates first person accounts, called Marital Property. I got the idea from The Poisonwood Bible.
I like to experiment with all three voices--yes, even the dreaded second person that agents, editors, and fellow writers claim is the kiss of death in terms of publication. I also enjoy shifting p.o.v. when it's done with a sense of rhyme and reason; jumping from one character's perspective to another's without clearly delineating the transition is one of my pet peeves.