I find Third-Person Limited is the best compromise. Nearly all the benefits of First-Person without the awkward challenge of being entirely stuck in their head.
People also don't get that First Person makes action scenes way more limited. You can't have the main character knocked out in a First Person scene (Because it basically ends it, or adds confusion to it when they wake up later), or put in any situation where they can't see what others are doing (Blinded, concealed, drowned, etc)
First-person works really well when limited information enhances the experience. Horror works great in the first person. Frankenstein is probably one of the most well-known books written in it. Romance and Mystery also often use it, because you don't want to give away all the twists and turns. First Person is also very popular for YA, which admittedly is this site's main thing, so maybe you should consider it.
I'd say use First Person if you have a really strong character voice. It can make the story feel like its someone telling it to you around a campfire, or half-drunk in a bar. Being able to bring their character out through the description is part of the fun as they relate things they're seeing to experiences they've had.
Use Third-Person Limited if you want to put your character's thoughts in, but don't want to write the entire story through how they see the world. Also use it if action scenes will be a constant thing, as action is just better to read in the Third-Person you miss way too much in First.