I like Episode 2 better.
The storyline is more interesting, to me at least. Creepy and dark and actually explains some things without having to do seventeen trillion offline quests(Although having a few would have been nice... Well, as long as they weren't crappy annoying ones. '_'
The stages look better, aren't always quite so freaking linear, and have a good atmosphere(They also don't get uglier on Ult like the ep1 stages).
The new monsters in CCA/Seabed are much more interesting to fight and actually present a challenge. Olga Flow can pwn my L108 HUmar. Said HUmar already wasted Falz.
Besides, Ep2 has Elly.