My favourite changes depending on circumstance. If I'm tired and really need to slow down, I'm going for that brake lever. If I'm not so tired, I'll skip/resist and just take my time to approach the light/whatever. If I feel really lazy but don't want to brake, or if there's a bunch of people that look like they may enjoy watching a skid, I'll skid to a crawl/stop.

I like having the option.

My favourite thing about riding fixed is being able to micro-handle my speed modulation with a slight resist/let-off/skip - so very useful when in traffic or dealing with road obstacles.

Oh yeah, and in crap weather/road conditions - I'll use my brake very carefully if at all - when things get slippy under the wheels I much prefer the control of the fixed wheel. Plus - who doesn't like pulling a crazy skid in the rain/ice/snow?