I have both and I use them both.
The formica one I have is rectangular on one side and round on the other, very handy. It is a bit cumbersome to move around, but good and strong.
The Ateco one I have had for many years. It is still sturdy, but a bit easier to move around.
I have the two cheapest from Wilton and have never had a problem with them. At a training meeting this weekend the trainer said she knew from experince that the flat Wilton one would hold a 3 year old. 
I'm considering getting the heavy duty one that Wilton makes, but haven't totally decided. Why buy bigger and 'better', when I don't have a complaint about the cheaper ones.
My MIL bought me the formica one for Christmas last year. I don't use it all the time because it is bigger, but I do love it when I'm doing bigger cakes. If I'm just doing an 8" I still usually grab my cheap wilton one though.
Thanks everyone for the input!!! I have the cheap Wilton (it's low level) and I have a hard time turning it with one and attempting to decorate with the other. My fingers alway end up in the cake. Soo, I was thinking of one that was taller. Will this help or do I just need to be more coordinated?
I actually just saw an episode about this on America's Test Kitchen a week or two ago.. After doing all their tests, they didn't care for the Wilton flat one. I don't care for it either, I have one.. I do however like my Wilton one that is an actual "stand", rather than just a lazy susan. It's about 8 dollars or so. However, I haven't had to use it on a very large cake, or a heavy cake yet.
Anyway, back to the show.. they said the plastic ateco stands that you get for about 20 dollars are the best if you're an at home baker, and do just a few cakes a week, but if you're doing it as a business and using it all the time, you'd be better off getting the more expensive 63 dollar ateco cast iron stand. It's very durable and should last you for years.
They didn't care for the tilting stand at all.
They tested about 5 different brands/types, if I recall correctly.
Hope this helps some.
Holly
Have you ever seen one of those sturdy, big, round formica swivels that a large tv sits on.....yep that is what i use for my bigger cakes or sheet cakes. I actually found one at a garage sale for $1.00 and use it all the time. But for a small cake I do use my small Wilton one.
I have the $12 Wilton turntable and I wouldn't want to do without it. Of course, I don't make very big cakes though. I did just recently buy a 12 X 16 Magic Line pan. I have only decorated one cake using this pan but the turntable worked fine.
darkchocolate
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