First, the local install. This is the simplest method, as we're simply installing software that is readily available from the default Ubuntu repository.
Pros:
- It comes configured in an Ubuntu fashion (that is, some Ubuntu defaults, such as start scripts) and it is pretty much guaranteed to work with your setup
- It installs extremely quickly
- It will also be kept up to date as long as the repository is kept up to date, and other software installed from the same location should interact with it in a native fashion, avoiding things like manual pointing of dependencies
- It'll obviously be fast, and thus able to utilize whatever your box grants it
- You can generally expect reasonable help with issues too, be it on the official ...