I had one lecturer in my 4 years at university that only used a chalkboard, and most pupils despised him because the pace as which he wrote far surpassed the rate at we we could sensibly copy notes. We wrote it out, but it gave little time to actually consider the concept we were learning. The rest of my lecturers all used PowerPoint presentations for the most part, in conjunction with print-outs so we could follow a…
On the other hand, the lecturers that used a blackboard at my uni all had prepared the lecture, what they wrote was meant to be written in a notebook. They wrote it at a pace that could easily be followed. This allowed me to go over proofs as I wrote them down, and I could then ask right away if there was anything unclear.
I also found several typos (usually a sign error or a missing term) this way, something which would probably have confused me a lot if I didn't catch it until I got home.
So, for me, well-prepared blackboard lectures is preferable, at least for math heavy stuff.