Depends on what mood I am in for.
COD4 bores me at times because you die in like 2-3 seconds. In H3 you atleast have to possibility to run from a gun fight, regain health and then p00n some nubs. I prefer that.
I do have to admit though, COD4, when looking at gameplay and the whole in depth stuff and the challenges, it's like 100 times better than H3's multiplayer.
Idk, I like both games equally.