I think it depends :) IMHO delta timing is easier. Many samples have been posted, use the search page. Here's however a quick description:
The game loop runs as fast as it gets, still synched with the Monitor (Note LCD Monitors often don't support VWait). While the game is running, the elapsed time between two frames is measured repeatedly.
delta# is then: Frametime / 16.67
So when the framerate is low then delta is higher and when the rate is high then delta is small. Now you can:
Moveentity player,0,0,stepwidth# * delta#
This way player will move with almost identic speed, regardless of the framerate.
Additionally the Delta Method allows to sync all animated Meshes simply by using delta# as the Parameter of Updateworld()! This is a very nice feature.
ms=millisecs()-17
while game ; start of game loop
ms2=ms
ms=millisecs()
delta#=float(ms-ms2)/16.67
..
moveentity player,0,0,playerspeed# * delta#
..
updateworld(delta#)
renderworld()
vwait:flip 0
wend