It's really a matter of personal preference. I've used Monokote for years, I've used dope and fabric before, my dad has used silkspan (and he's got some for his Sig Kougar) they all have their benefits and drawbacks.
Monokote/Ultracote is A LOT faster, and nowhere near as stinky (dope smells... But I kinda like it in moderation).
BUT, Film will not last anywhere near as long, remember my Grampa's Skybolt is older than I am! Also, fabric is 10,000 times stranger. And most important, at least for me, it wont pucker when its been sitting on the flight line all day.
As for the appearance, once again its matter of preference. Dope will never have the plastic look of Film, what it will have is a semi gloss sheen that looks so good you feel the need to touch it and hold it in your hands. But yet you could paint it with a polyurethane or enamel and have that molten plastic look.
Not everyone would want to put the time into a fabric job it requires. And really, not everyone would like the results of a fabric covered airplane. Me, personally, after using Koverall, I might never use film again.