I like cubicles because, frankly, my only experience actually working in them was when I was delegated to work for Genentech for a bit (I don't usually work in the US). The cubicles they had were large enough to have a second seat and a whiteboard — you could hold a face-to-face meeting with them, no problem. Oh, and they were designed in such a way that you had to get into one to look at someone's screen. As a bonus, mine actually had a window (I guess guest privilege?), but even the inner ones were fairly roomy.

On the other hand, I've seen places where I (I'm 6"2') just wouldn't fit so I'd have permanent leg pain. Oh, and the screens are easily visible to passers by. Just the pain itself would be enough to hate those.