Personally I favor 16:10, as I find 16:9 too cramped for what I most frequently do (scroll down a page of text). Our accounting software at work is a PITA when used on a 16:9 screen, unless you have a pretty big one.
I don't mind 16:9 or 16:10. As long as the vertical resolution is more than 800 pixels, it's usually fine. It doesn't matter if it's 4:3, 16:9, or 16:10, it probably won't make much of a difference if the height of the display is cramped. But to each his own.
But with that being said, sometimes a 4:3 display can make things awkward as hell to use.