|A basic immersion cooler that hooks up to a faucet|
|Counter-flow wort chiller|
So lets tally up the scores. The immersion cooler is cheaper to buy, but can be more expensive to make by yourself. The counter-flow cooler will cool the wort faster, and use less space. The final result will lead me to say that the choice is solely up to your individual taste and budget.
As always, stay classy.