It depends on the platforms you want to use and the budget you have.
If I had to choose between the T500RS and the new Fanatec CSR Elite I would go for the Fanatec in a hurry. All reviews point towards it being much better than the Thrustmaster, specially in the pedals department. The T500RS pedals lack the load cell and the force feedback brake pedal (the website says it vibrates when wheels lock up). Also, the rims look much nicer than the one of the T500RS and are covered in Alcantara rather than rubber. The Fanatec costs more and doesn't have a shifter as of yet but reviews of the damn thing already say it's awesome, and it certainly looks so.