Here's an example of Cerutty's base training, or what he called the "conditioning period." This is an example of what Herb Elliott would do in a week during this phase:
Monday: morning - seven miles, varied pace.
afternoon - circuit running (long cross-country intervals)
evening - easy five miles.
Tuesday: morning - five miles, varied pace.
afternoon - repeat hill training
evening - weight training
Wednesday: morning - seven miles.
afternoon - six miles, varied running and sprinting
Thursday: morning - seven miles, varied pace.
afternoon - fifteen miles.
Friday: rest.
Saturday: morning - five miles, varied pace.
afternoon - weight training
evening - five miles, varied running and sprinting.
Sunday: morning - six miles;
afternoon - intervals, golf course.
http://wls3.com/running/cerutty.php
So there's a lot of interval training and windsprints, which can actually be counterproductive this early in the training cycle. There was also some "varied pace" running, which meant that some of it was probably fairly intense. There is a 15-mile run during this week, but no mention is made of its intensity. From what I've read about Cerutty, he probably would have preferred that his runners go hard rather than easy. Note that the only run actually described as being easy is the five miler on Monday evening.
Nothing that I've seen about Cerutty even contemplated the value of incorporating easy long runs as a way to develop vo2max. There were six runs described as "varied pace." So under Cerutty, the idea of running long and easy wasn't given the emphasis that it was by Lydiard.
Lydiard was very precise in his use of training intensity, as he would use fractions to describe effort. For example, Lydiard described what Daniels would later call a tempo run as being 7/8 effort for four or five miles.
Lydiard knew that a combination of easy, medium, and hard longer runs were essential to base building. Lydiard's base training turned out to be more physiologically sound than Cerutty's "conditioning period."
That is the main reason why I would choose Lydiard over Cerutty. Another reason is Cerutty's theory of becoming a "Stotan," which he equated with manhood. Part of being a Stotan meant having well-rounded athletic ability, which would include some weightlifting prowess. Lydiard didn't care about weightlifting, since he didn't think it mattered.