is hardware firewall better than software one

Hi all
Recently our ISP is implementing tools to fight viruses, worms adwares, spywares, etc. Also, they promised (soon) customers to either get rid of their AVs or keep them for on-demand-scanners only. The first step was to exchange (on customer will) the ordinary router with one that has a built-in firewall (fully configured to the service provided. they said). I've got one and had a conflict problem with windows firewall (this thread)
https://www.wilderssecurity.com/showthread.php?t=84640
So, I disabled Windows firewall.
My Questions:Am I protected. I’m not familiar with hardware firewall and I don’t know now how this hardware firewall is protecting, is it better than software one, can it be tested, does it need to be updated and if yes how. Thank you

 

From what i have read they dont seem to be very good at outbound blocking. But i may be wrong

 

the best would be: a router for inbound protection/stealth... AND a software firewall (can easily be free) for outbound.

it is for the best to disable windows firewall in the situation above.

having a router and a software firewall will cause less cpu spikes/mem usage cause the inbound is taken care of allready and normaly should be adequately filtered through the router.