Does it matter? Well, only it that each has positives and negatives. If you want to have a clean system with as much of your equipment as possible out of the main tank then an overflow to a sump system is the way to go. Of course, more cost, plumbing etc. If you're looking at developing a reef system then most recommend allowing Live Rock to perform the majority of your filtration. A hang on would supplement your LR and give you place to hand carbon, phosphate pads etc.
Best I can say is way your options and try to decide on which way you want to go.
Good Luck!