Hi Victor,
There's a lot of discussion around the two approaches and the decision should balance not just the technical part but also the complexity, flexibility and IT "independence" that the financial area is
looking for.
Functionality speaking, both options delivers the same outcome, however, in a really high level view, the standard model is quicker and simplest to implement while embedded option is more complex to build but also can deliver more complex scenarios.
While standard is an island in BW requiring it's own dimensions and data loads through BPC only, embedded completely integrates with existing characteristics and it can potentially leverage any BW data load option.
Performance wise, in theory embedded is better because of PAK, but if you're on BPC on HANA absolutely all calculations in SL and Abap can be moved into HANA using SQL Script.
Personally I believe embedded is future in SAP's view - Consolidation embedded released recently is a proof of that. Although there're still be a lot of room for standard to grow.
Cheers,
Lucas