It would pretty much come down to application, in my opinion. On a stock or lightly modified street car, there's really not much benefit to the aluminum and several drawbacks. Like Jay said, rougher idle and having to slip a clutch more on takeoff can be big drawbacks because that's where most clutch 'chatter' comes into play. There can be several benefits to aluminum on real street/strip or strip only cars, but I'd prefer steel if it was mainly street. Especially in a heavier car.
edit: I'd also add that with a smaller engine like your 352 that the heavier flywheel is a much better choice. It gives you that momentum with the shorter stroke to get the car moving. It will also be smoother on gear changes. If it was a 470+ci engine that has loads of torque and stroke, that might be different.
