I much prefer subtitles, indeed these days I only watch subs. However it wasn't always like that because when I started watching everything was VHS and almost everything was dubbed, subs, when you could find them were more expensive. Anime distributors always claimed that dubs were cheaper, but I never quite understood this because for a dub you had to get someone to write the English dialogue, hire voice actors, hire a recording studio etc. Then DVDs came along, which could have both sub and dub and all of a sudden the distributors started releasing series sub only because it was cheaper that way.
Anyway, after watching several series subtitled I decided that I preferred to listen to the original Japanese cast rather than the American cast. I've now now become so used to watching subs that I've reached the point where I don't read them word for word, my brain just absorbs the subs with me needing to consciously read them.
Of course the big problem with watching subtitled series is that when you look away from the screen the characters stop speaking English.