I have vacuum sealed and frozen in water for many years. In my experience the fish keeps much longer if frozen in water, but most people don't keep fish that long. If you plan on eating it within the first year I would say vacuum seal. If you have so much fish you plan on it lasting years, then I would freeze in water.
Some folks claim the water adjusts the taste, but that has not been very noticable to me.
I usually freeze big batches of fish for frying and vacuum seal fish for grilling, baking and individual servings.
Either way will work.