Do you prefer speakers or headphones?

Headphones.

Audio Technica ATHM40X

Headphones. The sound is more 'personal' to me than speakers. Sennheiser makes some great ones.

Yes, pretty much this. Sound quality is higher, default TV sound usually sucks.

Depends. If you’re talking about a quality surround sound rig then speakers. If you’re talking about default tv speakers then a good quality headset.

for gaming and music, definitely headphones. just better clarity and more informative audio.

TV and Movies I can go either way, its easier to hear dialogue with headphones but it can be more comfortable sitting on the couch with speakers for audio, especially when watching for long durations.

Headphones... I use the Plantronics RIG 600LX. Really like them.

I prefer headphones because the sound doesn't bother anyone else and the mic is right there for me. Only time I use speakers is when I'm LANning with someone and need to hear what they're saying.

Proper surround sound setup over annoying headphones, which just make me feel like ripping them off my head after a while.

Speakers

Speakers for me. Headphones never seem durable enough for me. I don't have to worry about anything happening to my speakers because they just sit on my shelf at home. I go through so many pairs of headphones it's ridiculous.

Headphones. It's much clearer and I don't disturb anyone else.

Speakers for me. I've got tinnitus so I try to limit my headphones use.

Unless you buy a quality pair. Mine feels like a soft pillow on my ears ツ

However it's all preference base. Headphones work for me because I live in a 1R apartment that gets a lot of noise disturbance. If someone has a more dedicated entertainment room and living in a quite area surround sound is probably a great alternative.

Speakers. Proper surround sound is better than stereo right against your ears. More going on and doesn't sound like it's trapped in a small space, like a box. I also find it much less a hassle when I wanna get up for a moment. I can't even relax on a sofa with my over-ear headphones, because the cushion pushes forward around the back of my head too much. My Sennheiser HD 558 is used almost exclusively for commuting and breaks at work now.

Depends on the game.

Generally, for me:

Headphones for first-person games.
Speakers for third-person games.

Sometimes, however, I just use whichever is available and applicable in the given situation. Like, if the place is noisy, I use headphones; if I'm alone, I use speakers.

Headphones because I live in an apartment and I don't want to bother the neighbors.

Definitely speakers. I can't get comfortable with headphones on my head. Plus, having surround sound speakers all around you sounds so much better than the stereo sound offered by headphones.