I agree with DJ,
Let's say you play with a band and you are handed sheet music you have to learn and play this song tomorrow. You spent the last 4 years playing by ear. What are you gonna do? What if it's vice-verca?
Further more what if you are handed the chord chart, and then asked to create something.
My point is the same a DJ as many possibles ways to learn a song.
Now I'll answer your question neither is better, the both have advantages and disadvantages.