Are we referring to game game play style or actual camera view.
I've noticed that TPS tend be designed towards adventure like games where as FPS tend to be better at MP shooting. However both game styles can use either so I will refrain to the camera style.
TPS. The FPS is cooler. It does seem like you "see more" and you do get a better "visual" perspective. Often TPS have a slight camera down angle where as FPS don't have to suffer that. But FPS suffer from extreme lack of spacial awareness. In relation to life the perphial vision of a person is vastly greater than FPS have ever provided. Also FPS lack body perspective. You never exactly know how close to the wall you are or your feet are to the edge. While it's easy enough to adjust it's never spot on. TPS provide better spacial and coordination which provide better game play for actions, but it does suffer from a bit of graphical zing.
Squilliam: On Vgcharts its a commonly accepted practice to twist the bounds of plausibility in order to support your argument or agenda so I think its pretty cool that this gives me the precedent to say whatever I damn well please.
