Many of the answers to this question depend on what you consider to be "better".
Telepaths are beter at mindbending, as victim pointed out, but enchanters have more spells/day and the same diversity of power as wizards.
I prefer telepaths though. There are many awesome telepathic powers that don't have magic equivalents, such as mind switch and mass domination, to say nothing of the other new cool powers from ITCK and the Wizards website.
Telepaths also have the advantage of being able to metamorphosis into anything (if they have that power), and still use all their powers, a tremendous advantage. The high level psicrystal ability "channel power" is also enormously useful to telepaths, allowing the telepath to stealthily charm and dominate others from up to a mile away.
Another consideration for your poll is the level of the character. Low level psions stink even more than low level wizards, and don't really come into their own until 6th level or higher. A high level telepath is a truly horrific being, able to dominate almost entire armies, and gather information (and even assassinate) almost effortlessly, through use of mind switch and probe.