I prefer sand because it's cheaper. I used bottom of the line silica "play" sand, and my tank is sparkling now, after only one hair algae outbreak that was easily scrubbed away.
Also I think the finer sand looks a lot better than the coarser.
Not related, but when I was down in Cozumel, the beach looked and felt just like argonite sand. Very coarse with bits of shell and crushed coral and washed off easily. Would have been nice to import some...