Elisabeth Moss or Sarah Paulson?

Yeah, no.

I haven't seen any of 'The Handmaid's Tale' (I read the novel and didn't care for it), but I would say Paulson is more "cast-able" and versatile - I think Moss is hindered a bit by the timbre of her voice. That being said, Paulson's style can be a bit broad - not that it isn't effective or exciting - just sort of one-note. Moss' acting is much more internalized and subtle, which I generally prefer, but I'll give it to Paulson here, if only because I think she's capable of more.  

'lol' is the only appropriate answer.

I like Paulson a lot in American Crime Story and Blue Jay, and I dig her work in AHS season 2. That said, it doesn't even come near to Moss's holy-trifecta Top of the Lake/Mad Men/The Handmaid's Tale.

Amy Adams, Jennifer Lawrence, and Rooney Mara want their beers held.

I don't even know who the hell you are. Move along.

The show expands upon the book a lot more and has its own very distinct tone and vision.

I agree that Moss is hindered somewhat by her petulant sounding voice and cartoony facial features, it's the reason why she can never "go big" in a way that fully convinces. But I also think there's something noticeably more raw and visceral about her acting compared to Paulson's (see Queen of Earth and The Handmaid's Tale), but at the same time she can operate within the stricter parameters of a show like Mad Men. To that end I think she's actually more versatile than her opponent.

Allenism - I like the note that you made about the visceral and raw qualities of Moss' acting - I agree. I would also say that there are generally more nuances than in Paulson's work - as I said before, Paulson can be a bit "same-y." Would you agree though that Paulson has an uncanny ability to add surprising layers to stock supporting characters? Her performances in 'Down with Love,' '12 Years a Slave,' and 'Carol' are all so special to me.