I love WoD in general because I'm a horror fan and I find that, in many instances, you can get some good horror out of all the WoD games.
For NWoD, I love the open-ended, sandbox world that I can pick and choose stuff from. I have lots of options, can build out into weird stuff and not be ham-strung by metaplot.
That said, after getting BACK into OWoD due to running a LARP using the new MET, I've come to relove Masquerade. I love the depth of history and backstory, I like the societies and the advancement of vampire and human worldviews and experiences. I've even grown to love the forced stuff of the metaplot (though in both the LARP I run, and the game I'm developing for OWoD, I'm going to allow people to make changes to said metaplot if they can muster the oomph to do it in game).
Overall though, it's fun. I get to play something inhuman many times, let loose and generally have a blast.