These are two very different styles of writing and not everyone can write in both, some find it easy to write in 1st all the time and others in 3rd, doing both well is a gift.
What is the difference? Well in simple terms do you enjoy hearing all the thoughts of all the players as they interact with one another (This is the third person)? Or do you like to only hear the thoughts of the “Lead” be they male, female or other (This is the first person)?
So the question is what is your preference and why? Does it always apply, or do you enjoy one for some things and the other at other times?
Personally, I have always preferred to both read and write in the 3rd and here is the reason why, if you are reading in the 1st person then you lose all the thoughts of the other players, how do you know how they are actually feeling? If the author doesn’t force them to speak, they could be pretending to enjoy, and you would never know. 50% of the story at least lost in an instant. This is why all but one of my titles are in the 3rd person. True you can say that you are required to use your imagination to in effect fill in the gaps, but while this would work you don’t get the twists and turns that knowing can provide for you. Always assuming the author cares enough to give their reader the imaginary to achieve this on their own.
I know of several authors who seem to be in the habit of releasing two copies of basically the same story, first from say Her side in the 1st person and then from His. This while filling in the gaps (but you are still reading the same story, you already know how it goes), looks more to me to be a means of doubling the income of a single tale by getting their readers to shell out twice for the same work. If this is how you like to read your erotic pleasures, then fair play to you. It just isn’t how I enjoy creating or reading myself.
Ok, so I didn’t forget that there is the “Other Option” sooo as an aside let us not forget that there is a 2nd person that you could write and read in, but that is just erm weird.. It is all about talking to the reader directly. Basically, it is all about “You” where the reader is the YOU. As far as I am concerned this is a format that is only really applicable if you are creating an instruction list a blow by blow, do this do this and then you do this document. But maybe you can suggest a time when it could be used elsewhere.
Cole