Before you decide which one to use and what the advantages/disadvantages are, you have to know their difference.
Think of a nested structure of three levels: Plugin Settings - Channel Strip Settings - Patches
The Plugin Settings stores all the parameters of a single Plugin In
The Channel Strip Settings stores all the Plugins (with their current Plugin Settings) that is used on the current Channel Strip
The Patch stores the Channel Strip plus any other Channel Strip that belongs to that "signal flow", i.e. Aux Sends with their Aux Channel Strips.
Here is a diagram from my manual "Logic Pro X - How it Works" where I explain all the details about that topic.
If your Instrument Library only contains single Channel Strip that don't rely on Aux sends routing, then you can use Channel Strips. However, you still can save them as Patches, they just include that one Channel Strip.
BTW, a Patch is a Package File. You can open it up in the Finder and you will see Channel Strip Settings files inside plus other metadata.
Hope that helps
Edgar Rothermich
(Author of the "Graphically Enhanced Manuals")
http://DingDingMusic.com/Manuals/
'I may receive some form of compensation, financial or otherwise, from my recommendation or link.'
