Not to contribute to the flame, but I think what is better really depends on your situation. I think the arguement for twin tanks is very strong, in fact, I dive twin tanks myself sometimes. However, twins are not suited for all types of diving, or all dive centers to be more precise. My dive shop in Columbia, MD is very conservative for the most part. There are a few rebreather divers, but almost no one who shows much interest in any sort of tech diving. When I dive with them, I tend to dive with a pony, because that's what is accepted. Some of the instructors and trip leaders frown upon twins simply because they believe its "tech".
Of course the other disadvantage to doubles is cost. To begin with, if you dive twin, you are most likely going to have steel cylinders, which are much more expensive than AL anyway. Then you have to buy the manifold and bands to connect the tanks. You also need two first stage regs and at least one second stage for each. You can easily spend $2000 + on a twin cylinder setup at $400 a tank, plus the regs & manifold.
Pony bottles are significantly cheaper. Even a steel 20 l tank is less than $200. AL are usually less than $100. You can also through on a cheap reg on a pony and not be too worried, unless you are careless and start using your pony bottle as your reserve supply. You don't need a high performance regulator to simply accend out of an out of air/equipment malfunction. A simple sherwood piston reg is fine for this application. All told, I can't see why anyone would spend more than $500 on a pony setup, unless they are a tech diver and insist only on the $1000 titanium regs for all of their cylinders.
Just my $0.02. Feel free to correct me if any one feels my comments are wrong.