In my opinion, the hinge installation is the slickest, prettiest and cheapest. (My opinion.)
That being said, some people have had problems with them, as mentioned earlier. I did have problems with the hinge eyes on the lower cowl sections where the exhaust pulses caused broken eyelets, so I went with screws and nut plates there; however, never had problems on any of the other hinges and I think they are easier and quicker to remove and install than camlocks. I have also seen some camlock installations that have bulging between the camlocks.
There is a method to installing the hinges though, so that there is no tension on the hinges when installed. I clecoed the hinges to the cowl (Hinges on the firewall should be already riveted on.) and made sure everything was installed correctly and all pins went in and out smoothly. (This is critical.) Then, use VAN's method to epoxy the hinges in place. Use peel ply to cover all of the epoxy while the hinges are clecoed on and reinstall the cowling on the aircraft. Do the bottom cowl first and put it on the plane, then do the top cowl. Use the slow cure hardener for more time to work with the epoxy. Let the epoxy cure. (Don't go over board with the epoxy here or you can have a mess. Use flox to stiffen it up and be aware that you can always go back and hit those areas that need a little more, later. Be careful not to get epoxy in the hinge eyes.)
After that, you can remove the clecos and peel ply, pretty it up and worry about riveting later. After a few weeks of putting the cowl on and off for building, I finally countersunk all of the rivet holes and riveted the hinges. Very easy and looks very nice. On top of it all, the hinge pins are easy to install and there are no pressure points on the hinge eyes caused by deformed hinge sections while riveting.
Which ever way you decide to go, good luck!