I prefer the pm golden hour (actually about 3 minutes). I can set up camera and fill lights in the afternoon and then pounce on the sunset glow. I don't pounce on much of anything in the predawn moments. I've done it mind you, but it has had to be an exceptional occasion. As other respondents noted, the most important factor is which face of your fixed subject, East or West, is the best scene. If you've got a model, that's different, but they're generally not eager to be out in the predawn chill either.
The comment above about the still air of dawn is important though. In New Mexico we could see the thermal waves by mid-morning, so long shots were out in the afternoon.
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