it really depends on what you prefer. if you find you like cp and only do that i would suggest you really should do at least one or two batches of hp, because at some point you may have to do hp to save a batch of soap, if it should seize. soaping at cool temps ( room temp or just barely warm ) will help with those finicky fragrances, especially most florals that want to run away with you.
cp: the look of the bar will be smoother, because the soap is pourable ( well this could depend on how long after trace you pour, if you do thin, thick or over done, lol ). the thinner trace you pour the finer and more delicate your swirls will be, middle of the road is probably best till you get to know how yor soap formula's will act, but sometimes you end up at the thick end of the spectrum because a fragrance may start to accelerate and cause the soap to thicken faster then you like, ( some soaping oils are also known to move trace faster as does the temp you mix at ), you may end up with soap on a stick and this is where knowing how to hp will save this batch unless of coarse you want to leave it and chunk it up later for a rebatch, but that's another thread. if you add things like ground oats and such having the soap on the thicker side will keep the addition of oats, botanicals ( most herbs will turn brown in finished product), suspended thru out the soap. pouring at too thin a trace may cause the emulsion to seperate in the mold. doing cp may cause the fragrance to rice or seize, your colorants may morph because it has come in contact with the lye. then there is the decision to gel or not to gel, and the unpopular partial gel. milk soaps may turn tan again, this depends on the gel or no gel thing. you use more fragrance oils because it is exposed to the lye, and the heat of the gel.
should be left alone for 4-6 weeks to finish evaporating out excess water. so if space is a problem hp takes less time. swirling is easier with cp.
hp: does take more time to do initially, because of the time it takes to go thru all the cooking stages. the look of the finished bar may be more rustic looking. you use less fragrance oils because they are added after the cook, as is milk or any superfatting oils. ( this way you know exactly what oils are doing your superfatting, with cp you can't pinpoint it exactly other then we know some oils contain more unsaponifiables.) and are not affected by the lye. the soap does not pour smoothly, it is more of a glop, and plop and smoosh. but once out of the mold the soap can be used right away but is better if left for a couple of weeks to get hard. swirls are more marbled then wispy. clean-up of soaping pot much easier.