There are about 3 important considerations for every friction hitch:
How reliable is it, how well does it hold under load, and how easy is it to use otherwise?
The VT is the ultimate for easy to use, since it releases very easy, and ties rather quickly also. It also holds very well; so much so that it isn't very good for sliding quickly down a rope. Others have commented about burning their hands, but I think that is because it is generally used with smaller diameter tress cords. Almost everyone agrees that the VT needs to be set, other wise it can drop you. So reliability isn't too good here.
The schwabisch, distal, and some of the other eye-to-eye rigs are quite a bit more reliable that the VT, but don't release quite as well. They probably bind and hold equally well, and will have the same heat problems when used with smaller diameter tress cords. Tying them is slightly more complicated than the VT.
Blake's hitch is the old standard to beat; it releases reliably but with quite a bit of reluctance, so sliding the knot up always comes with an expense of extra effort. I don't think it can be beat for reliability and ease of going down the rope on a long slide. Since it is usually tied with the same rope size as it is binding to, getting hot and burning the hand of the climber is not too much of a problem. I don't think too many climbers use the blake's hitch with the smaller diameter climbing lines, so heat issues might be a problem on less than 1/2" rope. Sadly, this ability to slide down a rope with good control will also encourage the more adventurous climbers to damage their ropes on hot slides down out of the tree.
The old "taut-line" is the original knot that many learned on (I did!); but should always be replaced at least with a Blake's hitch. While it holds just as well, it has a tendency to creep untied, and it can choke down onto the line so tight you can't slide at all. It comes with the greatest expense in labor to release and slide up the rope.
The Prussic, either in a closed loop or in I2I, is still a pretty good knot. While this is a very reliable knot, it shares most of the performance of the Blakes and taut line hitches, and offers several advantages: It cannot come untied by accident and it will hold well no matter which direction you pull on it. Sadly, this means sliding up the rope isn't too easy, much like the taut line.