This is like asking me to compare apples with oranges. I love Granny Smith Apples and I love Sanguinello Blood Oranges, but I can't really choose a favorite, because you can't really compare an apple with an orange.
One of my favorite breakfasts is freshly squeezed Sanguinello Blood O.J. with a freshly baked Granny Smith Apple Danish. It's just not the same when I can't have both.
Likewise, if you had me undress privately, then lay on a bed with blanket over my whole body, with just a hole in the blanket (only big enough to expose my bare ass), and then you came into the room and tanned my ass with a leather strap, and then left the room with me still under the blanket and without having said a word to me, something would be missing! It might be an interesting experience the first time (experiencing only the pain), but it wouldn't be an experience that I would look forward to repeating.
Also, if you came into the room with a leather strap in your hands, and told me to undress in front of you, and then gave me a humbling lecture about my naughty misbehavior, and made me apologize to you (while I stood naked in front of you with an erection), then left the room without tanning my hide, something would be missing! This would sort of feel like foreplay only, with denial of orgasm. Again, this might be an interesting one-time experience, but ultimately less than totally satisfying.
I have similar feelings about being the disciplinarian. Silently walking into a room, tanning your butt through a hole in a blanket, and leaving, wouldn't be adequate. And, walking into the room with my strap in my hands, but only telling you to undress and stand naked for my lecture, then leaving without administering a whipping, would also be inadequate.