I always try to field dress away from where I'm hunting if at all possible... for that low impact approach. However, I've seen deer ignore a gut pile left by other hunters too. Just depends on the animals mood I would presume.

Either hunting method works well... although I prefer the elevated vantage point if there are trees that will accomodate my climber. If not and the area is just too good to pass up, I'll pick shooting lanes, check the wind and adjust to the ground cover accordingly. No one way is really a "better" way IMO.