DNS Server or HOSTS File?

I would say why choose one or the other when you can use both? I use Acrylic DNS Proxy and like it very much. I use HostsMan to download and merge various hosts file sources (which I save as a HostsMan disabled hosts file; e.g. hosts.ehm - I don't actually ever touch the Windows hosts file). Then I have an AutoHotkey script that I wrote to transfer the HostsMan hosts file to the Acrylic DNS hosts file. I use OpenDNS because they're the fastest of the malware blocking DNS services from where I live (measured using DNS Benchmark).