It completely depends on what you are trying to achieve, and also what type of truck you have.
If you simply want to fit bigger tires so it looks cool at the mall, then a BL is for you. You don't mess up any of the factory suspension or steering design. Also, a BL does not raise the CG AS MUCH as the same height suspension. The heavy engine, trans, t-case, and frame all stay at the same height relative to the ground.
Also on an IFS truck, most suspension lifts really don't change the way the suspension works. They just lower the mounting points of the stock suspension, where as on a leaf spring/SFA setup you have the opportunity to change the actual springs and possible increase flex and ride quality.
The biggest benefit a suspension lift has in regards to off-road is that it creates additional clearance under the entire vehicle with the exception of the axles....approach, departure, break over angle are all better...BL does not really help this.