What do you think is better and genarally more fun to mess around with,
a whammy pedal or a tremolo system such as a floyd rose?

I have never played with a whammy pedal. i know people with floyd rose systems and they dont seem so great with with changing strings or channing tuning. and even using heavier string gauges. fun to use though... are whammy pedals more extreme? .. if you know what i mean
Whammy pedals have much more extreme settings (up 2 oct, down 3 oct) but aren't as controlled - for example, with a whammy you can't easily find smaller bends of 1 or 2 tones, you're really limited to the octaves and a sweeping sound inbetween. For ultimate versatility get both, but if I had to choose just one it'd be the FR.
Wammy pedal because its sick and you can go all Tom Morello on your guitar. But with the FR and Wammy pedal your gonna get some sick sound maybe even like a Pink Floydish sound.
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Well, id have to ask what youll be playing and shiz. As far as options go the whammy pedal has much more then a regular floyd rose and much less of a pain in the ass with strings and tuning. Plus the WH-4 has the nifty drop tune feature so you dont even have to down tune mannually if you do. i truly believe with some innovation and practice you can acheive anything a FR can do and more with a whammy pedal. get that foot workin!
They're two very different things. The Whammy pedal won't allow you to do some of the crazy FR tricks with harmonics and garbled noises, but the FR won't allow the same huge amount of pitch shifting. I'm much more of an FR fan to be honest, because it sounds much more organic and actually like a guitar than the Whammy. Also, newer Whammys have reputations for being crap. The response time on one I tried was downright awful.
Can a floyd rose go 3 octaves up?
I don't know.
Probably not.

But can you do pitch bends accurately with a pedal?
Probably not, unless you use it all the time
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Psh. I can can play fleshlight acoustically.

Can a floyd rose go 3 octaves up?
I don't know.
Probably not.

Neither your guitar or strings would stand that, if it was possible, afaik.

Anyway, a Floyd Rose is a vibrato system, period. The Whammy does, in theory, the same thing but it's more an effect pedal than anything else.