I now have experience using both ring flashes and a speedlite with multiple types of diffusers (using a homemade one right now… that’s a whole other topic). Overall, I would end up recommending a speedlite+diffuser overall for a couple of reasons:
- Generally a speedlight flash and a decent diffuser are way cheaper if you’re just getting into it, and although the best diffusers are in excess of $100, there are always homemade options or those pop-up ones for $5 are pretty good (probably the best option overall).
- Also, ring flashes can be a bit bulky and it’s a lot of weight to add to the total setup - especially to the end of your lens. The bottom of mine also got all scratched up from trying to rest the lens on flat planes for a photo, and if the working distance of your lens is very small, getting into tight places with a 4 inch wide donut on the end of your setup isn’t really ergonomic.
- The main part for me though is that the diffusion of ring flashes is noticeably worse, and trying to come up with some type of DIY solution was a huge pain.
At the same time, ring flashes have their benefits, like being able to put out tons of light without using much battery and being quite robust for photography in the field.