Ah what the heck, I'm in a posting mode, so I'm going to reply to this one.
I have both. A chip and a FAST. I don't have XFI yet, but want to when I grow up!
The chip? Great! I have one in my sometimes daily driver, and used to used to use it in the car I race. If you don't have a laptop, or don't want to learn how to tune with one, then a chip is probably best for you. Less to mess with, and if you have good support for that chip, then it can do wonders.
FAST? Great also! I like the ability to change alot of settings. Let me repeat that. ALOT! Now, once you get alot of these settings right, you pretty much never touch them again. No need to, so having the ability to change them doesn't come into play after that. So, if you have them burned into the chip, then it is kind of the same. The advantages? Well, change your cam, change your turbo, change your fuel, change your converter? Change your program. Change your chip? More money. Now I know that chips have some adjustability now. I don't know much about that. Never used one. I probably will in the future, but can't comment now.
The reason I changed to FAST? Cost. I had just bought new injectors, and a chip. They didn't last long, a new turbo and faster times, and I had to upgrade again. That meant a new chip and a modified ECM. I could just see the next upgrade costing me another chip. So, I bit the bullet and bought the FAST from Jack. Sold my ECM, sold my MAF, and saved the cost of the mods to the ECM, and the cost of a chip. It still cost me more to get into it, but in the long run, I benefited.
They are both great, but it all depends on each individual person, what they want to accomplish, and their comfort level working with each method. It also depends on what they buy, where, and what kind of support there you are going to get.