In my experience, Pulse is better for heating mats& tape and on/off is better for heating bulbs & panels.
Also, on/off can be better if your room is cold and has the possibility of sudden temperature drops. For example, if my room suddenly drops to 59 degrees, I want my heating element to turn on at 100% power, not the 29% power that was necessary a few minutes ago when my room was nearly 70 degrees.