I think I would like to put it to a vote of the people who are currently interested. Let me make a few quick points to help you choose, so we all know what to expect.
If we go with the Exalted system, combat will take longer since ultimately we will need to wait on people's combat posts. There are things we can do to alleviate that delay, for instance setting a time requirement before we skip to the next person, or letting people PM me their movies. Having a system would hold more true to the core of Exalted difficulty theme, and I would be able to reward experience. So we can actually grow stronger as the game continues. I would be making all of the rolls. However, if we go with a system, then I will have to do a lot of Storyteller type stuff that you guys as players may not like or be familiar with in your own games. I have a way that I like running Exalted, which prioritizes my idea for the setting and story and less towards White Wolf's vision of the game. Allowing Manses is one example, as well as adding in some Warhammer like races. You guys will need to roll with it and trust that I've done this a bunch of times before. There may even be some "I don't agree with that" and me saying "That's ok" happening at some points. I'm not an asshole, trust me.
If we go free-form, combat will be faster and there will be no required posting order. So the game will move just as fast as people post. I've GMed a bunch of free form games and have a good feel for combat. But ultimately what is going to happen is you will make attacks, and I will say whether it hits or not based on what is appropriate for the scene and story. We can still use charms, but they will be just to enhance aesthetics and add flavor to posts. I will factor in the purpose of the charm in the outcome of your attack. Also if we do free-form, I would be removing perfect attacks and defenses from the game. Since we won't be tracking essence in combat. This style could be more collaborative with the players since things can change on the fly without affecting the game. But growth and power increase won't be significant from your starting character.
So, abbreviated that's what I think would be different. Let me know what you guys would prefer to do! I am going to remain impartial for now and just address any questions you have until the votes are in.