For me it is earplugs only, the orange ones. If you decide to go with earplugs look up how to properly put them in, it makes a world of difference. The NRR of the orange style plugs is usually around 33 dB. My table saw is probably the loudest tool that I have and it runs upwards of 105 dB, so at 33 I'm good but an NRR of 25 only gets me to 80 which can still be damaging to hearing.
My understanding is that earmuffs have been found to be relatively ineffective. I work in manufacturing facilities and most of the plants that I have worked in do not approve earmuffs for hearing protection (unless used over the top of earplugs as "double"). I think that this is largely due to improper use. In particular, glasses can interfere with the seal which limits effectiveness (like the ones shown being worn by the guy in the Dewalt DPG17 advertisement
). My anecdotal evidence is that my dad ran heavy equipment for work and religiously wore earmuffs, but he also wore glasses, he has struggled with serious hearing loss starting at about age 50. My recommendation is that if you go with earmuffs be mindful of things that interfere with the seal (glasses, facemask bands, hair, etc).