First vs. Third: Which POV is better?

The point of view (POV) from which a story is told is a very important part of any novel. The trademark style of chick lit is first person conversational. The protagonist tells the story like she is the reader's best friend. All of the details are very personal to the main character. The first person POV can really connect readers to the main character on a deeper level. In a recent interview with Sophie Kinsella, she said that fans of her Shopaholic series told her they often ask themselves, "What would Becky do?" They are, of course, referring to Becky Bloomwood, the charming protagonist who tells her stories directly to readers through Kinsella's use of the first person POV. This is an example of how much readers can become attached to characters and love them as if they were real friends. Can the same be said of characters whose stories are told through third person POV? I enjoy different writing styles and different points of view. However, I have noticed that my favorite books are in first person. Is that just a coincidence or another example of how important the conversational tone is to chick lit? The advantage of third person is that several different characters' points of view can be featured throughout the book. This gives readers more of a whole picture of the story, rather than only seeing the story through the eyes of the main character's personal account. However, the first person POV allows readers to be so close to the story that they almost feel like they are part of it.

What do you think? Which POV is better? Can readers connect better to stories told in first person? Are third person stories taken more seriously than first person stories? Do you have any examples of exceptional first person and/or third person chick lit?