I use both, but prefer PR, and Silmar 41 in particular, mostly because PR polishes better.
Alumilite Pros: Easy to mix, turns more easily than PR, doesn't stink to high heaven like PR does - but wear a respirator anyway.
PR/S41 Pros: Quite a bit cheaper (just under $120/2 gal delivered vs just under $170/2gal delivered for Alumilite), can pour a single blank in multiple stages, polishes to a better shine.
Chipping with PR isn't that bad IME, especially if you cast round blanks in pvc molds. You need to dial in the least amount of catalyst to use to get the best results. Alumilite is a no brainer, 1:1 by weight. PR is also more tolerant of moisture/high humidity than Alumilite, but that's only a problem during monsoon season here in the desert. Alumilite is better if casting in temps below 70F, I don't even bother with PR below 60 degrees and rarely below 70 (only if I'm out of Alumilite). I demold PR blanks in 4 hours during the hot season, at 80-90 degrees I go 6 hours, and below that I wait for at least 12 hours, a full 24hrs if it's below 70. Alumilite can come out in 2-4 hours regardless of the temp. You don't need vacuum or pressure with PR, but you will get consistent bubble free results with pressure, occasional air bubbles with vacuum, and unless the resin is warm, you always take your chances without either. Even if you do warm the resin in a bucket of water you may still get spotty results unless you're making thin casts, which doesn't include pen blanks. Alumilite has to cure under pressure, there's no way around it. PR is better for embedding objects in clear resin, Alumilite is better for worthless wood or other organic material like pine cones. PR works, it's just not quite as good. It helps if the resin is warm so it can flow better into all those tiny pockets. You can get a smoother fade from one color to the next with Alumilite, but for some effects PR is better.
This is based solely on my experience for the last two years and is my opinion, not fact. Except for PR polishing to a better shine, that's no contest. :wink:
EDIT: If you go with Alumilite and plan on using more than 1 or 2 colors per blank, do yourself a favor and get the slow (12 minute) cure. I've run into problems with the regular setting too fast when making multiple color pours.