It depends on what you like. I personally like Springs better. Springs are better for the street, they help to provide better traction on surfaces that are not perfectly flat. Springs have a much more comfortable ride than coilovers. They can keep your tire on the ground after a bump or change in uneven surface.

Coilovers are good for the track, and awesome for corners. They control chassis roll better and promote better steering response. JIC, Tein, Tokico, and Ground Control all make good setups (JIC Especially). These systems are expensive though. If you cheap out on coilovers, the only thing you will be satisfied with is your ride height.

When you choose a spring you have the option for a progressive wound spring or static rate spring. Progressive gives you more weight transfer and a better ride. Static rate is more like a coilover, you get better handling and less weight transfer, but a stiffer ride.

A FWD track car would want to go with coilovers. High stiffness in the rear and adjustable ride height helps to prevent the weight transfer and gives better traction for the launch. An AWD street racer can handle weight transfer a little better and benefits from a softer suspension due to the road, and should probably run springs.