which one is better?

What sites do you play on/are you looking to play on?

I play mostly on Betonline and find Holdem Manager to be awesome. I haven't used Pokertracker in years, so can't comment on the current version.

Best,
Acereum

I play on ACR which is supported by poker tracker. If you only play micro Holdem you can get it pretty cheap. Add ons for higher stakes and omaha aren't too pricy either. I like all the features it has and haven't had a problem with it besides user error.

poker tracker for me, got it a while ago pretty cheap and has been awesome. have tried holdem manager, its good as well, its just a matter of personal choice in my opinion

It depends on your needs and your willingness to be patience and learn your way throught the program. I mean, HM2 is a lot more user friendly so the learning curve is less steaped in comparison to PT4 as many of the reports are already preconfigured and cosmetic speaking is a lot more appealing than PT4 therefore is the software of choice by many cash game grinders specially since they can also use NteCaddy along side with it.
But PT4 is a lot more customizable than HM2 making the learning curve a lot steaper but once you get around it and get familiar with that the potential value of PT4 is a lot higher than HM2 since PT4 gives you the opportunity fo create your own statistics and customize your reports filters far better than on HM2. PT4 is mostly use by low/mid stakes MTTSNGs.
HM3 have been on beta testing for over 18 months now and its interface for many of its tabs is exactly like PT4, specially the HUD Editor part.
Im a official PT4 Premium Addon Developer so my comments might by biass but i do believe PT4 > HM2, cheers.

Never forget that the mind is your most powerful weapon at the poker table.

Do they not still both have trials so you can make your own mind up having tried them?

They basically do the same jobs.
HM2 is more user friendly and has better looks.
Also has some nice add-ons like NoteCaddy.
HM Cloud, where you can store your hand histories online is also good (I don't know PT4 might have it, but they didn't have it in PT3).

Also PT was purchased by HM, so HM team might be a little bit business savvy

I use HM2 and very happy with it.
You can also get a small stakes version for a cheaper price.

Below is my affiliate link for HM2 (hop it's not against 2p2's TOS):
http://www.holdemmanager.com/buy/211...a_bid=1336c6bf

I use PT4. I like the HUD it gives, and database review is pretty simple and easy!