As to which one is "better" it's very subjective & a lot depends upon
1. the weather
2. that event that particular year - some years are better than others
3. what you want to do/like to do
Still go to rallies occasionally but sometimes we go when there isn't a rally. Some bikes there, not a lot. Riding is better because the crowds aren't. Am not much on walking around venues and looking at vendors unless am looking for something specifically. If you like the crowds, the higher rates, & waiting & waiting because of traffic & all - the events are more fun.
Daytona for me was more fun before about 2000, before the city decided to ticket everyone for doing anything. Riding for me is always better out west. Wide open spaces, wide open roads, & in the sparsely populated areas no traffic & not many people. Can't get that at a rally, or it wouldn't be much of a rally.