That's still an open debate, and each way has it's advantages. I will suggest this: If you do decide on the powermaster, get a unit with a lifetime warranty. I consider them easy to install, so the occasional replacement isn't a problem for me. I picked up an AutoZone PM (Cardone), and it lasted about a year, BUT, my poor bleeding procedures could have contibuted to early failure.
This time I bought a Mighty Vac bleeder kit and all I can say is that it is AWESOME! I have never had better brakes on ANY car.
Oh and BTW, if I had to do it all again, I think I'd convert to vacuum.