Bud,
I use both techniques. Guides are nice for 2 reasons: I can use a spiral bit if needed, and, I'm less likely to damage the template. That being said, using pattern bits is fast and easy. You don't have to worry about offsets in making your templates, you just cut the exact shape you want.
Depending on how many items you are going to be making from your template, using a guide might be the way to go. If it is just one or two cuts, the pattern bit might be best.
__________________
Doug
1 John 1:9
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