Theoretically, MAF is better, because it actually measures the mass of the air the engine is taking in, which allows it to meter the right amount of fuel. S/D merely tries to "infer" how much air there is, based on vacuum (MAP), throttle position, and so on. So a MAF system is inherently more likely to be accurate, and more likely to be able to handle changes in engine displacement, air density, ambient temp, and so on, since it directly measures the actual "number" of air molecules. That's why most newer FI systems use one.
OTOH, the implementation of the MAF in the TPI cars, was weak at best. The MAF only has 8-bit resolution. That is, it only has 2 to the 8th power, or 256, possible discrete values of flow that it can report; and since it was set up in the software so that those are steps of 1 gram per sec, that means it can only accurately meter from 0 to 255 g/sec, which is something like 375 CFM of air. So this limitation isn't a factor of MAFs in general, but rather the crude implementation of it in the early TPI, that was the best that could be done with the limited computing power available at the time.
Another more universal issue with MAFs is that the sensing element itself is usually very small, and its location in the intake tract is therefore critical; so, for example, a Frod one is about ½" in diameter, located in a 3" tube or whatever, near the wall of the tube off to one side and right behind an elbow, such that turning the tube one way or another will position it in or out of the actual air flow. I've seen those cars where they REFUSED to idle or otherwise run right, and merely rotating the MAF element 180° or whatever, dramatically altered how they acted.
And of course, there's the simple size (diameter) of the TPI MAF itself; it's big enough for a stock 305 intake tract, but once the intake flow is improved and/or the engine's CID is larger, it becomes a restriction. It's already a restriction to a 350 in stock form, let alone a modded one.
For these reasons and others, the TPI MAF setup is not as popular as the later S/D version.