I prefer emulation. Superior sound and image quality. I was never a fan of the muffled sound of my old OCS A500. In WinUAE i can disable filtering and get crystal clear sound. The difference in fidelity is massive. Sure there might be some small playback accuracy problems with some titles (?), but that's no biggie for me.
Graphics wise it's awesome to run Turricans in 1920x1080 full-screen resolution on a 50Hz/100Hz display, with graphics filling the screen (keeping correct aspect ratio of course) and null-filter output (Amiga's pixel art graphics should not be ruined with any ugly filtering effects imo).