I've never done an aerotow, only a winch launch (and hundreds of powered aircraft take-offs), but I think you can safely say that winch launches are a lot more exciting!
They're most likely cheaper too, in general, since you're only heaving the glider in the air, not the glider plus the tow aircraft. Less energy needed, less cost. Simple. And if the winch has a large number of spools (the one we used had six) the cycle time can be much shorter, allowing you to launch more gliders in less time.
Disadvantages of a winch vs. a tow: The height that you can obtain with a winch launch is essentially a certain percentage of the field length. Around the 50% mark I'd say - we flew from a 1000m field and obtained heights of around 500 meters, depending on the headwind. And the release point is always more or less above the location of the winch. With an aerotow you can obtain any altitude you want (although high = expensive) and the driver can drop you off right below that good-looking cumulus cloud.
Aerotows can also be used to retrieve aircraft after having landed "out".