Overall, I like GalCiv 2 terraforming more. The current GalCiv 3 method requires more thinking and attention from me than I would like. Like I said earlier, I put off terraforming until later so I'm sure that I'm not wasting a terraforming improvement on a soil enhancement tile, since can potentially terraform all soil enhancement tiles later.
There were positives to both...
Benefits to the Galactic Civilizations II method:
All tiles on every planet were instantly available once that main galactic terraforming building was built on any of your planets. (sorry forget the name of the improvement.)
Depending on the class of the planet you may get anywhere from 12 tiles on low quality planet to 3 on high quality planet
No thinking, easy upgrade, tiles were preselected.
Not dependent on land for tiles to be available.
Benefits to the Galactic Civilizations III method:
All planets are treated equal, High quality planets, with a lot of land could increase the quality by as many tiles as you can build.
One can place tiles anywhere, which becomes very important with adjacency bonuses.
Personally, I prefer the Galactic Civilizations III method, I love being able to place the tiles where I want on the map, even if it is limited by where there is land available. This allows me to create nice adjacency bonus options and I love the customizations.