It really depends on what situation you are fishing. Early season I will use both a WTD topwater and a sub surface WTD. Both have their strengths and weaknesses.
I like fishing a WTD topwater when it is relatively calm. The only bummer is the hook up percentage, it can be quite poor in terms of hook up percentage. My two go-to baits are the weagle and the Homewrecker. The weagle sits a little lower and throws some water. I can work it a little faster than the Homewrecker, which I use a lot during really calm conditions and work it very slow and methodically.
Subsurface wise it’s an extremely productive early season bait for skis and pike. My first two choices would be a Rapala 6″ X-Rap Subwalk, and a 6″ or 7.5″ Phantom. Both baits will always hold a place in the tackle box.
In terms of advantages and disadvantages, the main draw back to the topwater is the conditions have to be relatively calm and it has poor hook up rates. Advantages would be it can be extremely effective at triggering fish and its a heck of a lot of fun to watch a fish blow up on it!
For the sub surface, it can be a little difficult to get a rhythm initially until you have fished it for a while. Like the topwater, it is a slower working bait and is often difficult to fish in tandem with blades or rubber because you have to be going a little slower, and will cover less water.
I will use both early season, and continue to use the topwater version later in the year than the Subsurface for muskies.
The Rapala sub walk is a staple for fishing pike year round!!
Hope this helps, and don’t hesitate if you have anymore ?s.
Ben