I loved Terraria, lot's of interesting things to explore. I whish they'd offered more help on the bosses. The one where you had to throw a voodoo doll into the lava was about as obscure as you could get.
I have played Minecraft since back when it was still a browser game and played Terraria a lot as well from day one and honestly Terraria has been much better simply because it had a lot more content. By the way, the 1.2 update is almost out, he has been working on it for a while and kept pushing the date back but apparently has finished it and is just left with bug fixes now (multiplayer is finally fixed too so you wont need something like hamachi to play).
Personally I didn't like Terraria though. Way too simple for my taste.