What.cd is absolutely awesome if you are interested in music that is not mainstream. Waffles is a very good tracker, but for obscure releases in for instance the neofolk or apocalyptic folk genre, I haven't had much success with Waffles. What.cd has a lot more to offer in that regard. I am also very fond of there being much more options with regards to classifications when you upload an album to What compared to Waffles - the effect seems to be that people tend to be more careful with cataloguing their uploads. Moreover, in What, for instance, log files for your rips are automatically checked and you will know whether your rip is perfectly in accordance with the regulations or not.
As for seeding, it's true that it takes some determination and thought to build ratio on What. I was a bit perplexed at first when I saw myself constantly being outseeded on a seedbox, despite quickly jumping on new, soon-to-be popular torrents. So I had to get myself a few strategies. Apart from the obvious, which is upload, I auto-download but put a lot of effort into making good filters (in accordance with my own tastes). It has worked really well so far; and combined with seeding everything I have downloaded, I now manage to upload about 1GB every 24 hours. Waffles in comparison, I never had to find a particular strategy, it's IMO much easier to have and maintain a good ratio (although I am a pretty new member of Waffles and was lucky to experience the freeleech - so maybe my views are a bit skewed).
I also want to point out that What.cd's tutorial section of the forum has a wealth of information as well, from ripping to "pimping" your seedbox.