There is no simple answer to your question. It all depends on where and how you will use the phone. In an office environment with a PBX where you have many users need to talk to each other, IP phone will offer users more flexibility and functions like "Find me follow me", call screening and routing base on CID, voicemail to email, video call...etc (where your IP PBX support it) vs Analog phone and analog pbx lack these features. However, if you are using it at home, a analog phone may be more user friendly and more reliable since IP phones needs an internet connection to make and receive calls. When there is a power or internet outage, you will not be able to use your ip phone. A simple analog phone that plug into a POTS (Plain Old Telephone Service) will have dial tone even when the power is out.
If you are talking about business application, IP base system have the advantage over analog base system since they are less expensive to deploy and manage and offer more functionality than traditional analog base PBX.
For home use, IP base service cost less than your local phone company especially when it comes to long distance call. But it has to run on top of your internet connection which can suffer more technical difficulties and less reliable than analog base service.
Again, the phone itself is only the device for you to place and receive phone calls where the back-end service is what makes the real different between the two.