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I have yet to play Killzone 2 so I cannot say which is better, but I will mention some reasons as to why I think Halo 3 is the best online FPS experience I have yet to experience(Tribes/UT2004 being the last two).

Weapon balance.
Weapon placement on the maps.
Map balance.
Vehicle controls.
Vehicle balance.
Equipment balance.(notice a trend here)
Ranking system.
Party system.
Matchmaking.
Guns, grenades, and melee controls tuned to perfection.
Playlist updates.
Bungie.net integration.
4 player co-op.
4 player split screen.
Gametype updates.
Nice lighting.
Saved films.
Forge is neat.(Bungie is about to make a user created game-type/map playlist)

I would be more than willing to go into more detail if someone needs it.