Basically, either option is available to you but it's a matter of preference and situation.
A) use traditional static sync with select settings via iTunes via USB or local wifi. But you need to be in proximity of your iTunes/Computer setup.
B) enable iTunes match and pluck what you want out of the icloud via stream or download. If you are a non Sprint iPhone user, beware of 3G data usage or download option on wifi network. But this can be done without your iTunes/Computer having a local connection to your iDevice.
The only major flaw in the iTunes Match for me is new smart playlists show up as empty on all iDevices. I remedy this by creating a regular playlist in my iTunes library and copy contents from smart playlists to new regular playlist. It's an extra step but it's an effective way to gather a good chuck of music and use download all option to get it locally on my iPhone.
I then periodically go to settings-general-usage and wipe my music files. That give me a chance to start clean and pick what really matters to me at point in time. The power of the cloud is simply have anything anywhere anytime for those unplanned hankerings for a song, album, artist that I forgot to sync while near my iMac or at home. This is particularly relevant when at the gym and my 'new music' has gone stale and need to rely on a few classics to get me through those much needed last 20 minutes. ;)
The traditional method is still available and you can certainly flip back to iTunes Match. It's just not an on demand an instantaneous flip of the switch unfortunately.