January 11, 2012 1:54 AM EST
I say vampire is a lot better. Vampires get a heavy burst to illusion at the cost of being very susceptible to fire damage and reduced stats during the day. It's also a hassle to have to feed in order to keep yourself from turning into the final stage (which will make all npc's attack you on sight). You also get many abilities which you can find on the skyrim wiki site.
Werewolves are kind of useless. Endgame, they don't deal much damage. Also, you don't gain any skill experience while in the werewolf transformation, meaning that your one-handed skill (or whatever damage-dealing skill u use) will not improve. I suggest the werewolf only in an unarmed pugilist playthrough.