I have owned/used both and too a very limited extent it depends on the type of diving you do which one may work best, but in general it's a simple decision.
Overall I feel the shoulder dump is much more useable - although as noted above, where on the upper arm it is placed is important. In most cases you can raise the elbow slightly to the outside or roll slightly to the opposite side and easily dump. Lifting the entire arm is not needed and will, as you noted, result in lots of trapped gas in the arm. Less is more in thic case. Also, using the other hand to manually depress the valve is not required - if so it is an indicator you don't have enough gas in the suit or are plugging the valve with undergarment material.
A cuff dump can be a major pita as it will dump any time that cuff is raised above the rest of the suit. It also takes up valuable forearm real estate that is used by many divers for slates, computers, compasses or bottom timers. It is also guarenteed to addanother obstruction near the hand when donning equipment, working with stage bottles, etc.