They both equally suck.
You can try Bloo (free on the market). Its not that great, but I find it better than the stock FB app.
Wow so people are having problems with the pre-installed verision? I haven't had any problems at all and I got mine release day. That's odd.
Dude, do you get notifications? When people write on your wall or reply to things you reply to on other people's walls? Because if you don't get those notifications then the app is broke.