Samsung Galaxy S5
I can't believe I am saying that, but yes, S5.
I'm heading to Hawaii this weekend, and a water-resistant phone like an Xperia Z2 or S5 would be nice to have when I'm snorkeling. I generally look at Samsung as a rival as I root for the HTC/Sony camp. Reviewers and tech enthusiasts fawn over HTC designs but nobody buys them. Mass population buys Samsung for practical things like a removable battery. And Samsung being more popular is better for long-term resale value. HTC acts like a premium brand and has never been known for bargain prices. Samsung caters to all.
But the answer depends on your history and looking each brand's history and current/future status. I have the M7 and I want something different. I have to baby the M7 like a precious jewel. Not so with the S5 which isn't a headturner. And M7 overheats and the metal gives me electrical currents in my bloodstream. Last year, M7 was an easier pick to me over the S4 even though they were very close in ability with a few trade-offs. But the M7 and Sense 5 were fresh while S4 was a recycled S3 with little changes to TouchWiz and had many half-baked features. The HTC One didn't look like the One X and the skin was revamped.
This year, both HTC and Samsung are guilty of recycling last year's flagships. Neither companies are saints. They cheat benchmark scores. HTC never updated their 2012 phones last year. Not even for Sense 5! People are leaving HTC in droves since 2011 for bad customer service, battery life, and lack of software support. M8's glaring weakness is the camera like last year's. Not a huge improvement and no OIS. I think the M7's camera was one of the worst ever I ever had for a smartphone. HTC never corrected the purple haze.
If you never owned the M7 before and are happy with the M8 already and can live with a weak camera, stick to HTC since this company might finally be getting their act together. I love everything about my M7 except the useless rear cam for soft indoor shots and awful color reproduction. But some of the hardware advantages of the S5 seems to outweigh the advantages of the M8 right now.
S5 -
Water/dust resistance
Removable battery
Slightly smaller dimensions
Plastic is better for ruggedness
Better camera
Better repairability
Heart-sensor
Baby monitor
My Magazine (answer to BlinkFeed)
Low SAR
Samsung more popular = better resale
M8 -
Better design
Metal will always feel more premium
Better Android skin (Sense > TouchWiz)
Better external speakers
Screen display and battery life seem to be a push or preference thing. M8 now has a memory slot which Samsung phones usually have.
If you're a fashionista, M8. HTC is a gateway drug to Android for Apple lovers that appreciate great design. While not as eye-catching as its predecessor, M8 is still the best looking device of 2014 even over the OnePlus One/Oppo Find 7. If you're practical or outdoor-type, S5. It recycled more of the S4 Active even in design. The rear looks like a Band-Aid but at least Samsung got rid of the glossy, slimey plastic back prone to fingerprints.
What sucks is both Samsung and HTC will copy Sony and double-dip this year. Rumors of an S5 metal version and M8 Prime could be true. That's why better off to upgrade later in the year. M8 and S5 would be heavily discounted by then.
They are both good. I doubt you would have any regrets picking whichever.