I have a generic control which displays an editor based on the type property inside a ViewModel. Currently it\'s implemented using Control, ControlTemplat
I've heard that DataTemplateSelectors do not update the template if the value they're based on changes, and because of this I usually don't use them.
My preferred method is actually to use DataTemplates.
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Second, if I want to change the template based on a property rather than the object type, I tend to use DataTriggers. This is because if that property ever gets changed, the PropertyChange notification will automatically tell the UI that it has changed and to update the template. I do not believe DataTemplateSelectors do this automatically. I also prefer to see the template selection logic in my XAML, not have it hidden in a TemplateSelector file, but that's just personal preference.
And my last choice is to use a DataTemplateSelector. I almost never use one in a WPF application, although I often do in Silverlight since it doesn't support my preferred method of using implicit DataTemplates (yet)
I am not aware of any significant performance differences between the two, although I would be interested if someone can tell me otherwise.