Which do you prefer and why?

My vote goes for a Sorcerer. I like carefully selecting spells and being able to cast them all the time. I don't like worrying about scribing spells and relying on luck to find the right spells.

Depends - if you need a "skills" type in your group the Wizard is a better choice. If you need a talker then a Sorcerer comes in quite handy. Both are solid IMO for the right party.

I like a sorcerer's power, but I always want the versatility of a general mage. However, since I usually have 3-4 arcane casters per party, I always take one mage and the rest sorcerers.

Wizard: variety
Sorcerer: frequency
That's all you need to know.
False! you also need to know that wizards gain more feats.

True, a wizard gets bonus feats. However, I never notice much of a difference unless I am using a fighting mage, such as my favorite ranger/pally/rogue/mage, in which having bonus feats for weapon finesse and such is nice.

Well also in this game, the CHA stat can be boosted via spell and INT can't, so Sorcs get the advantage of being harder to resist becasue their prime stat will be higher than a Wizard's. I believe at high levels, where Eagle's Splendor lasts > 8 hours it will even grant bonus spells after resting. The Wizard does get the bonus feats and that somewhat compensates (can use them on SF/GSF).

True, Marty4 and Gimli, a eagle splendored sorcerer with GSF in any school is indeed hard to resist. Don't get me wrong, I usually take sorcerers because they're strong casters and good talkers, above the extra feats.