I have both ... Pros & cons:
Vinyl - can go around corners, easy to connect & disconnect with barbed fittings, can see obstructions inside, quieter in the overflow if you make a loop so the water is not falling straight down ... but deteriorates over time, can kink, & can have algae growth as light can get in. Big ones (like 1.5") can be hard to work with ... stiff & only bend so much.
PVC - rigid, no kinks, harder to fit as everything has to be "just right", difficult to modify later ... but last forever.