Opinion is split. But I think that Spouse visa gets the edge.
The fiancee route is more expensive in terms of combined visa and FLR fees. And with marriage in the Philippines it is great for relations with the inlaws before your other half leaves for the UK. And a honeymoon in the Philippines also surely helps tip it in the favour of the Spouse visa.
In our case we had no choice as the mother in law insisted marriage in the Philippines. She had to give her consent for us to marry.
I think Terpe put out good thread on this topic. See below.
http://filipinaroses.com/showthread....t=terpe+spouse