@csehz I’d agree with what @smurfmier1985 said. When it matters that a texture appear precisely in a spot, UV is best. For example, the clothes that I put the stripes on, for them to look correct, you have to use UV coordinates or they don’t look right, particularly around where you would naturally see seams anyway. I have used stripes in Generated or Object texture coordinates, but in those cases, I’m often doing something more abstract and the placement and look is a bit different and can, in some cases, be harder to control the overall look. that’s why for things like grunge, either works just fine.
