The Makiwara vs The Heavy Bag

There is a debate among martial artists about which 2 pieces of martial arts equipment is better: The Makiwara or The Heavy Bag.
There is endless banter about which is the superior training tool. Proponents of the makiwara will say one thing while the heavy bag enthusiasts will say something else.
Personally I think it's all a load of shit! The truth is that they both have their strengths and weaknesses. I would go through all of the arguments for both of the tools but I think it'll be a complete waste of time.
As I've said before I think as martial arts warriors we should be using a variety of training tools and not simply focusing on which tool is the best!
I use a heavy bag for practicing my combos, improving my physical strength and stamina.
I would use a makiwara for refining my technique, focus (kime) and for hardening my bones.
(While the heavy bag can harden bones, it doesn't do it as well as a makiwara!)
I also use many other different equipment from the Muk Yan Jong (wooden training dummy) to the B.O.B. (Body Opponent Bag) to the hanging wall bag used mainly by practitioners of Southern kung fu styles.
Just use whatever works for you.