I have gone with the Pocket-Wizard solution for studio usage. Fortunately I don’t have to contend with multiple users of radio channels in my location! When shooting with infrared triggers I have had more misfires because of line of site placement issues. The Canon 550EX series of flashes have infrared remote triggers and I generally wish that it was a radio device.
Most of the new equipment in my studio has PW sensors built-in (as well as infrared and slave modes) so for me PW is a no brainer.
I love the cordless stuff so much I am very seriously wishing I had enough money to put battery packs on all of my stands and run the lights without power packs.