Live rocks are super fun! I enjoy seeing the critters that exist in the ocean interact with one another in my tank when established. I've done both before, so here is my experience. Live rock is way more expensive than dry rock, but live rock will cycle your tank way faster than dry rock will. If you care about cost, go with dry rock, if you care about how "soon" you can cycle the tank, go with live rocks.
Recently, I've cautioned myself against live rock, because you really don't know what kind of creatures are lurking within those crevices of the live rocks. I've found 1-4"worms that I didn't know if they were fireworms or bristle worms. I seeded my tank with aiptasia through live rocks. I started noticing my wrasses kept getting damaged while they slept in the sand - there were no aggression between wrasses and had lived together well. When I found my femininus wrasse dead, that was my last straw. I'm pretty sure some creature from the rocks were taking nips of my wrasses, so I just threw the entire rock out and changed the sand bed. After that doing that, it seems like my wrasses are doing better and I haven't had any death since.