Which is better Super Sonic or Sonic with all wisps

This is a far more complicated answer than one might think. It depends what context you mean, so I'll give pros to using both. Keep in mind that they don't share any of these pros.

Sonic using wisp powers:
Pros:
-Using a lot of them gives you a higher score at the end of levels.
-Various different abilities allow you to go through levels and use shortcuts.
-You don't loose rings over time when using wisps.

Cons:
-Not the gold, epic form of Sonic
-Need to collect capsules to use them
-They only last so long before they run out
-No bonus is added to your overall score while using them

Super Sonic:
Pros:
-Invincible
-Faster than normal Sonic
-Infinite boost power so you don't need to collect white wisps.
-"Super Sonic" bonus is added to your overall score every two seconds while in super form

Cons:
-Burns up rings so you need to collect more constantly
-Can't use wisps at all
-His theme stops the level theme, which is annoying sometimes.

Overall, they're kinda balanced. Super Sonic is great for lowering your overall time of a level, but if you're a master at using wisps, wisps can give you a lot more overall score than Super Sonic can.