I think for a street car, the levers, at least in front, are the better choice. My brother considered doing the tube shock conversion on his Midget and I told him to stick to the normal levers in his car (which were in decent shape).
On the other hand, for a racer, the nitrogen filled tube shocks resist fade longer and run more consistently over long periods of abuse. My race car runs gas-filled tube shocks all around (with the levers in the front serving just as upper links). With the vintage race crowd, it's a mix of tube and lever shocks depending on personal preference. I'd say this is partly because the races tend to be shorter and run less aggressive tires so the lever shocks aren't over-taxed.
But for all-out SCCA production racing, I'd guess you rarely see a lever shock these days.
Bottom line: for street, lever shocks are fine.
For some racing applications, tube shocks may be better.