I have used both. From a convenience standpoint, the Terminal parking is right across the street from the pier and particularly when 2 or more are traveling very easy for you to drop your luggage and have one park while the others wait to enter the port with carry ons. The down side to the Terminal parking is that it is currently $12/day.
The park and fly is only 5 min or so from the pier. Shuttles from the lot to the ship are very easy since they pretty much take each party as they park. If others happen to arrive at the same time they would have the same shuttle, but if no one else is there, you have the shuttle to yourself. Returning is a bigger problem, and mine was compounded by Hurricane Wilma. They attempt to keep the shuttles running, but there will be a line. Upside to Park'n'fly is that the cost is half the Terminal Rate.
Rich