For the short term, banding will have the advantage of the steer not going off feed and you will have an advantage in weight gain. But after a couple months the cut steer will have caught up and in the long run may end up a little ahead. Banding is much easier on the animal and is probably a little easier and faster to perform. Of course diehard knife cut people will tell you differently, but from seeing alot of both ways, that is my opinion. From what I can tell, most of the reasons I hear against banding is basically because "Dad and Grandpa never did it that way." Personally I really don't have a strong preference either way, although I mostly band now just for the ease of it.