These are often the favorite for suits and not so formal events, since they feel formal but not too formal. A good thing about wearing a long tie is that many formal affairs you’ll attend in life will require a bow tie. The downside is that it makes your tuxedo look more like a suit. Also, it bisects the white “V” that is made by the shirt when the coat is closed. That “V” is important because it emphasizes broad shoulders and a narrow waist, for your most masculine look.
From a sartorial standpoint, these are always going to be your best look. Traditionally the bow tie is the only correct neck-wear to accompany a tuxedo. Long ties tend to make your tuxedo look more like a suit, and that kills some of the commemorative effect of a tuxedo. Also, the bow tie preserves the white “V” and draws attention to your face, instead of your naval. It’s also more traditional. And you can still splash some fun into your outfit with basically every color and pattern known to man.
We like them both, but if we had to pick either a bow or a long tie, we would opt for a bow tie.