I do not know which is the best for your case, especially if you do not seem to be backing up right now, but the advantage of cloning is immediate recovery due to being able to boot from the clone, work from the clone while the clone is getting cloned back to the frelled up install.
Using Time Machine is more cumbersome when restoring a full system, but using TM lets you restore from any backed up point in time and also lets you recover data from any backed up point in time.
Therefore many use both backup systems, once for immediate system recovery and once for a more accurate data recovery.
I simply use cloning, as I have had my share of bad experience with TM already and clones are quite easily maintained.
Before install: Backed up all data required to an external HD, and deleted them from the OS X hard drive. Then created a temporary admin account, and used that to delete all other user accounts. Also remove any WiFi networks saved.