Who's on First? Or Third?

A recent comment from a writer friend on my Facebook page got me wondering: As a reader and/or a writer, which do you prefer -- first person or third person narration?

I confess: I don't like first person as a reader or a writer. My basic issue with first person as a reader is a trust gap -- when I read in the first person, my trust radar automatically goes on and I wonder if the person is telling me the truth. I realize this may say more about my own personal trust issues than about first person narration, but I think that there is a link. Narration from the first person POV should engender trust with the reader, and a lot of things can really wreak havoc with that trust. If the first person's voice is inconsistent or unauthentic, trust issues crop up.

As for writing in first person, I have a very simple reason for not wanting to do it: My characters whine too much. I hate whiners. I certainly don't want to create them.

Tara Harper gives a good overview of both forms. Stuart Evers of "The Guardian" discussed the problems with first person narration back in 2008. And just so you don't think I'm playing favorites, read Bill Bowler discuss the pitfalls of third person narration.

What about you? Do you prefer first person or third person narration -- in your reading or your writing? Why? What do you like/dislike about either form?