... either depends pretty heavily on how you implement it. There's a world of difference between the limited inventory of Angband, ToME4, and Incursion, ferex.
Uh. Huh. Actually, I can't think on any unlimited inventory games off the top of my head. Most that come close just use "soft" (i.e. total weight, which is influenced by varying things) instead of hard (inventory slots) limited inventories.
As far as preference goes, I like whatever doesn't get in the way of the playing the game. If there's going to be a limited inventory, make sure it does more than just waste the player's time or force them to (more or less meaninglessly) trawl through junk/leave behind useful stuff. I've never been fond of Angband, Crawl, or Diablo's (/varying multitudinous MMOs) inventory systems. T4's conversion of utility items into a limited slot thing is close to ideal, t'me. Some other games (I think a few MMOs?) do something similar with healing items on cool down rather than chewing up inventory, as an example. Resource management is fine and dandy, but I've not seen many that try that that aren't... clumsy. Dev seems to have more power insofar as creating the experience they want when they can just say, "Okay, this is your utility, you have X of those. This is your healing, you have Y of these." Instead of "Well, have, uh. Twenty slots. Do whatever."
If there's going to be an unlimited inventory, make sure it's easily navigable and do what you can to supress "junk" items, unless something useful can be done with said junk -- and in that case, probably do something interesting with it on the fly. ToME4's a good example -- it has an artifact that automatically picks up everything for you and can break whatever you don't want down into gold. Items stored in the artifact are weightless, and it prompts you to clear the thing out on level change.