3e by leaps and bounds (but not by a mile)
It is very hard to beat a game where I can do pretty much anything and have it work, that still maintains its own strong flavor, that encourages dungeon-plumbing adventure while maintaining a robust system for non-dungeon-plumbing adventures, that is specific without being overly so, that I can generate a living world with, and that makes it so easy as a DM to improvise or make certain mechanics prominent.
There's some issues with 3e, don't get me wrong. Part of the reason I'm not currently playing it: I'm OK trying something else for a while.
But 4e does not do it for me; at least, not as well. The shoot-from-the-hip ephemeralness of many of the rules leaves me stumbling in the dark when I need a light. The assumptions of player role and playstyle and world aspects leads me to think of this as a more marketing-produced, homogenized edition, where things were made for the greatest mass appeal, rather than for any inherent value they bring in and of themselves.
I am playing 4e. I am DMing 4e. I'm still fairly optimistic about 4e, and I think many of its problems are solvable because 4e did a few really smart things in laying a groundwork that 3e didn't do. This kind of relies on WotC to be willing to kill their own carefully constructed sacred cows, but it's certainly something they could do.
I'm picking up Pathfinder, but I'm a little afraid some of the latent 3e-isms (iterative attacks, spell level as DC-setter) and some missed opportunities made for the sake of compatability will leave me dry. I can house-rule it again, but I'm already eager to do that with 4e.
I have to make my own middle ground right now and it makes me a little grumpy.
