OP
pencilpusher
It is arguable that carrying out a Zs test will give you a "real life" reading and so is actually more accurate. This is fine, just so long as any parallel paths giving you an adequate reading don't change (such as a water mains being changed to a plastic incomer).
The advantages of Ze+(R1+R2) are that you are isolating that circuit and so are not dependant on the rest of the installation remaining the same. By linking your line and cpc and testing at each point, you will also be confirming polarity and line switching.
Personally, I use both measured and calculated methods depending on the situation at the time, and I agree with all the reasons why people prefer one method over another.
I always start with calculating ZS as I know this will give me a worst case scenario. My ZS is then measured afterwards to give me the feel good factor (hopefully!)