With a sophisticated control system I can see wanting a transducer on both sides of the radiator. Could then program for max delta-T allowable before the fan comes on without worrying too much about actual temperature, but could also set a hard limit for either sensor's signal that turns on the fan regardless of delta-T. It should also know when things like A/C are on, because then it could adapt favorably. Such a system should also have PWM capability for variable fan speed too.
That ain't us, or ain't most of us anyway.
Back to the OP's question, I think that as long as the adjustment range of the sensor will allow it that it won't matter where you put it. If it doesn't have that much adjustment range then you need to look at where those temps will be and place it there. Most likely that means near the t-stat. As too which side of the t-stat (engine or radiator) I don't think that it will matter much, but given a choice I'd choose the engine side as I think that this placement will result in less up/down temperature cycling.