Just as a note Wildstar is only in Beta and I have only had a very short time with it. Both games are very intriguing entries into the MMO war. Elder Scrolls is by far the most unique of the two, with a leveling system unlike anything else in the MMO world (that I've seen anyway) and a great "endless, wonder aimlessly about" feel to it (akin to the single player Elder Scrolls games). So what about Wildstar? you say... well Wildstar is much more of a WoW on steroids, and is fun without being too revolutionary. The thing I like the most about the game is how all attacks/heals are telegraphed on the ground, making reaction to those things a skill/twitch style of gameplay, which I love. I hate tabbing through bad guys to get to the one standing right in front of you. No tabbing, just pure skill based aiming! This may turn off much of the MMO community as they have not had to sit there and aim, just make a really good macro and hit a button at the right time.
Graphically it's hard to say since Wildstar is stuck at medium quality for the Beta (or at least that's what I've heard). That being said, ESO is gorgeous and makes all the other MMOs out there look absolutely ugly. Wildstar does have a nice whimsical feel to it, and if the textures and overall blurriness of the game gets fixed (just getting the Ultra setting should help) then I think it might end up looking pretty amazing too.
So which one has the better story/overall feel? That is still up in the air, they are polar opposites of each other. While ESO takes a shot at being serious and having lasting consequences, Wildstar is just plain silly (mostly in a good way). I am very torn, as I like both games. Wildstar is still being tweaked and I am still bitter that the Elder Scrolls went MMO... so who knows. Right now I'm giving Wildstar a slight edge because it just feels more "fun" so far. Also, my four year old likes Wildstar a lot better as the characters and feel of the game are more cutesy!
