Hello,
Both methods sound good. The difference is that VISA wait has to do specifically with an event generated in VISA, while the second one doesn't. Other thing that you need to take in consideration is that the VISA wait suspends all action in the application thread. So if you have more things on that thread, they will be stopped. There are some ways to force LabVIEW to run in different threads so that will also have a fix.
Another thing you need to be aware is that you need to close the handle created by the VISA Wait.
Take a look at this document.
Timeout on VISA Wait On Event Even Though the Event Has Occurred?If you will be doing event
driven with serial communication, I think the way you are doing it right now is good enough because it will do exactly what you want to do.
Here is a document for notifiers:
What Is a Notifier?Hope this helps
Ricardo S.
National Instruments.