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I don't have a single argonian yet, only 1 altmer, and only play PVE, but here's my take.
CP can easily increase the healing output, while extra magicka pool and recovery will require way more CP and additional resources (glyphs) to compensate.
Skye Cloude - Sorc DPS, Master Crafter. Main, the bestest Lae Lenne - Templar Healer Trial grade. Dromede - Stamina Nightblade, she's a newb and doesn't know what she's doing V'oghatta - Stamplar pretending to be a tank Ulville Thonvella - aspiring Fire Mage, be careful around her fire sticks! Dromedaris - lost and not found. Named after a shoe, what else can you expect from her? A proper tank in her wildest dreams Swims-Naked - too pretty to grind, too silly to quest. Sun Flair - Dunmer Templar that can't spell for life. To bad she's too broke to afford a name change... Well, at least she's pretty...
I play both an altmer and an argonian healer in pvp. Really, honestly, as adorable as my little lizard healer is, I like my altmer more as a healer. In pvp, mag recovery is often an issue far more than in pve, especially if you're running 5 or more heavy armor. You can't heal if you're out of mag. Argonians definitely work as pvp healers, it's just I find resource management easier with my Altmer and that is something can make or break you in mid-fight in pvp.
For pve, I'd say they are on par with each other, if specced appropriately for their racials.
Honestly, it all depends on your play style. Altmer will assist with higher damage-dealing, while being an Argonian will assist with stronger healing. It all boils down to preference ultimately.
For a Templar, I’d go with Argonian due to that boost provided in healing. But the Altmer in me would suggest going the High Elf route, due to them being the best all around magicka race (and best race overall from a lore perspective ). So really, it’s up to you.
if you're planning on doing vHoF and vMoL, you'll want the Altmer mag recovery passive. I'm running 2.5k regen and I still run low on magicka when I'm in those trials. Grant my Purge is still unmorphed so I doubt it'll be much of an issue in the future.
I main a dmg templar in pvp and played both races. Argonian comes out on top for me by a mile! The recovery is fantastic with their passive i can regain 14k stam from one pot, not to mention the other pools. Damage difference makes barely any difference as i was able to swap out an recov glyph for a damage one. Extra 10% healing is always nice!