A:
Hook bonnets take up a lot less room in the tackle box. In my opinion bonnets are harder to get on and off of the hook.
Which is best is a matter of personal preference. Either choice is not that expensive. If you try both of them you will probably find a use for both of them as I did.
Since I am also a fishing guide and instructor to children and to the elderly. I feel that the rubberized hook cover is safer for them to use once it has been installed on the hook at least one time. This is for it to stretch to easily fit the hook.