This is a really tough choice for me because when done well both are really great! When done poorly both are equally disappointing. For me it is a Pancake, moist, fluffy, slightly chewy and tangy made with buttermilk covered in good butter topped with sour cherries and real maple syrup.
I like both, but I'd choose pancakes over waffles. Seems to me, a lot of time, people can't make waffles correctly. They either too soft, almost like a pancake or to hard and you can't barely cut it with a fork. With pancakes, just flip when start to see the bubbles on top and you're good to go!
Really depends on what restaurant I'm at if not making them at home, I'll usually go with pancakes though. This was my birthday breakfast a few days ago.