I'm in year 4 in Friley, and the President, so I guess I'd be a little biased. Then again, I wouldn't have stayed for 4 years (going on a 5th) if I didn't love it, right? Great community, very social, lots of stuff to do, close to all the places you need to go, great bus access. It's also by far the most popular building on campus, and fills up way before any other hall. If you're coming here this fall, you're almost certainly too late to get into Friley. Every single house in Friley has some sort of learning community that generally reserves some rooms for incoming freshmen, so if you're in one of the learning communities that has space in Friley, you might still get in. I wouldn't count on it.
Nobody can speak with any authority on Helser Hall anymore. Yes, it used to be awful, but they gave it a full renovation last summer. It's really nice now. The community is still as strong as ever, and now the interior looks good.
That said, Friley all the way. Best place to live, end of story.