It's not really an either/or type of question. If we do either, we almost always do both (the exceptions are all old). We also have a switch to disable all transfer trip during testing or other work when tripping the remote end would be bad.
All our newer transfer trip runs on SEL's mirrored bits; bit 1 is DUTT/DT, bit 2 is POTT, and bit 3 remote drive to lockout.
The DUTT part of bit 1 is the conventional under-reaching zone 1 trip; the DT part is anything else that makes one end of the line want the other end to open for, such as breaker failure. Well understood, and easy to implement.
The POTT scheme is really more than traditional POTT since it can take advantage of the reverse block and echo capabilities in the relay logic.
The remote drive to lockout allows one end of the line to keep the other from reclosing. This can be for breaker failure, it can also allow one end of the line to reclose and if it trips it can then block the remote end from closing.
The POTT scheme does a pretty good job for nearly everything; the DUTT/DT occasionally gets there first, but the POTT scheme can't force the remote end open. If the remote end is already open, the echo logic on the POTT scheme provides high-speed coverage of the whole line, where the in-service terminal would never get a DUTT/DT signal from open end for a fault near the open end and would trip zone 2.