so ive had both and this is what i can tell you.
Bulbs: good output, looks kinda weird in the daytime, a lighter tint of yellow
Vinyl: protects the fog lense, a deeper tone of yellow, restricts 5-10% of light output.
ive never had any problems with bulbs overheating or vinyl smoking/melting.
for the fogs, ive tried many setups from regular bulbs to high watt bulbs, 35w/55w hids, with or w/o vinyl and ive never had a problem. ive probably went through 2 sheets of vinyl testing which shade of yellow i like the best. im super happy with my current setup.