I use both, but differently. I prefer a T5 in the enclosure mainly so I can set it at an appropriate height for UVB output and control heat independently. Using a halogen for heat I can dim it and use a thermostat - this can't be done with a MVB.
I use MVBs partly for travel due to convenience, and mostly just as basking spots around the house. I have them hanging from adjustable stands and set them to a reasonable heat and UV output combination. I don't monitor as closely with these since they are wide open and my dragon can sit to the side of them easily if he wants to. I just tweak their heights a bit depending on what his mood seems to be.
In both cases, it's important to invest in high quality bulbs. Partly for safety and mostly for quality control. The more expensive bulbs (generally speaking) are more consistent in their output than the lower end bulbs are. It's also good to have a bulb with a fairly wide beam like the PowerSun or Arcadia bulbs. Megaray is also good, but tends to have a narrower intense beam of UVB based on my testing. My dragon loves his and sits under it often.