What are the differences between toe-up and cuff-down socks?

Are there advantages to one technique over the other? Do you have a favorite?

Toe-up rules

I prefer making my socks toe-up for several reasons. You can size & shape as you go more easily, there is no seam on the toe (I am pretty good at kitchner stitch - I just don't like doing it!), and... if you run out of yarn, you simply have a shorter cuff rather than no toe! My preferred technique for socks is two at a time (so I get the second one done before I get too bored with the pattern), toe-up on one long circular needle (magic loop style.)