I prefer the feel of dumbells, assuming full range of motion is used. Contrary to popular belief, this means touching each DB to the shoulder or outer chest on every rep. The main problem with dumbells is that most gyms don't have DBs much beyond 100 lbs. so they aren't very practical for stronger lifters. They also become burdensome to get into place at 100+ lbs. In addition, I believe the barbell provides a greater range of motion and the ability to handle more total weight and therefore should be the main target for long-term improvement. Dumbells certainly have their place in training, but I like to think of them more as an accessory exercise as opposed to a main compound lift.