Hi Max - it's up to your own personal preference, one way is not particularly inherently the "best" way.

When you use styles they can be organized by color so that the objects are visually distinct on the screen.

For tagging just one single object that you want to refer back to later on, that can be convenient to do by assigning a name.

You can use both styles and name assignments in combination with one another too, it doesn't necessarily have to be all one or all the other.

Styles generally map more closely to what other programs usually call "layers" though.

When you export to a 3D rendering program using OBJ or LWO formats, the style assignments will become material assignments in the mesh file. So if you want to have materials be assigned when exporting to a rendering program like that use styles for that.

- Michael