I'm a fan of both. If I had to choose one for the rest of my life it would probably be pancakes because I feel like there are more and better variations of them. But the texture of waffles can be just the right thing.
With the recipes that we use, waffles have less sugar and a lot more butter, but they are, of course, both loaded with simple carbs. I often eat pancakes without syrup, opting for fruits (normally berries) instead.
Of course they aren't good for me, but that's not the point. And they aren't as bad as a Dutch Baby (nor do they taste as good). That's some seriously sinful breakfast food.