I prefer the louvered trays myself. I usually buy the Moroso trays. It seems to me that oil bouncing around in the pan can easily penetrate through a screen type tray and go back to interfere with the crank, whereas that is not possible with the louvered trays unless the oil comes back at the tray at just the right angle.
The problem with picking one or the other, though, is that it is just a guess; there's not really any way of proving one is better than the other, without a serious dyno thrash to find out. And in fact I have run the Moroso tray and the Canton screen back to back on the dyno with a Cobra aluminum oil pan, and have seen no difference between them up to 6000 RPM on a 492" stroker. To really determine which would be better, I think you would need a very large pan to take the pan effects out of the equation, and then be able to spin the engine to at least 7500 RPM to really accentuate the differences between them.
The trays usually will not interfere with a 4.25" stroke, but they will interfere with larger strokes. The Moroso trays are pretty easy to modify for larger stroke engines; you just have to cut three tray supports, bend the tray away from the crank, and weld in some spacer sheet metal.