For me it depends on who is fighting. If its one of my favorite fighters, I prefer a beatdown so I dont get all worked up and nervous and can just enjoy the fight.
If its two of my favorite fighters facing each other OR its two guys I dont particularly care for, then I prefer a close epic battle.
Its actually interesting that there is a thread for this because I often found myself saying "I dont really care who wins because (I really like both guys/I dont particularly care for either guy) but I just want a close competitive fight" and I didnt realize it until I read this thread.
Gonzaga vs dos Santos - UFC on VS
Vera vs Jones - UFC on VS
Bibs vs Hansen - Dream 13
GSP vs Hardy - UFC 112
Gomi vs Florian - UFN 21
Nelson vs Struve - UFN 21