I personally prefer to plugged-port method over the recirculation method for the follwing reasons.
1. Plugged port provides a positive means for knowing when the master cylinder is fully bleed since the piston will hydraulically lock once the seals clear the fluid ports into the reservoir, typically about 1/8" of travel. Just as the fluid returns to the reservoir, so will the air bubbles upon release. With the recirc method, no more bubbles may mean you're done, but may not and is not definitive since there's no way of knowing whether there's still air trapped anywhere based on the feel or travel of the piston.
2. Plugged port method has always worked quicker for me, which I've attributed to the fact that the bleeding process generates pressure which collapses the bubbles, reduces their surface area and makes them more likely to release from whatever seal, groove, void, etc from which they may be trapped. The recirc method just pushes fluid in a loop under basically zero pressure, so while a decent way to get the bulk of the air out, not the best to finish difficult to bleed MC's IMHO.
3. Finally, if there is an issue with the master cylinder with respect to bypassing fluid internally between circuits, you can and will be able to determine that with the plugged port method prior to installation. So even if you prefer bleeding via the recirc method, it would be good practice to plug both ports after bleeding, cracking each plug to bleed the ports, and checking the MC to verify that it's fully bleed and doesn't slowly sink under pressure.