I have tried both methods...Took the fish route before ever hearing of the shrimp method. Then used raw shrimp on the next tank.
I will never use live fish to cycle a tank again. Honestly, I think the raw shrimp method works better than live fish. It creates a higher ammonia spike, and does it quicker.
Think about it. With a live fish, you are only introducing ammonia through their waste. That is gradual, unless you have a tang or something, that releases waste the size of an Elephant! (heh heh)
With a raw shrimp, it is the decomposition of the body that introduces ammonia.
IMO, that's the way to go.