As someone who grew up in a very traditional Church of Christ in west Texas and now plays lead guitar in my church's praise band, I think both have their value. I love hearing the praise band on weeks I'm not playing, and I love playing in it on the other weeks. I can't sing worth a lick, but I'm amazed at the worship experience I have when playing in the band.
However, I will say I can't stand to listen to Christian music, praise music, or whatever you want to call it, on the radio. So badly overproduced and synthesized, there's nothing authentic there. It feels very different when it's just me and three or four other guys on stage.
"Well, if you can’t have a great season, at least ruin somebody else’s." - Olin Buchanan