Many go with foam. It lets you apply fairly even pressure across a uniform applicator pad.
A few go with terry because of its extra punch, but it may leave some hazing due to the highs and lows of a terry applicator.
It also depends on the finish conditon, terry with SMR, then follow up with foam on a decent finish, foam and SMR on a good finish.
Also be prepared to have a good workout rubbing and rubbing with 3M SMR. Its a PIA to apply by hand to a car.
Jason