Well, let me say at first that it's all anecdotal because, at the bureau, we are simply concerned with disability awards and reviews. We don't do the other stuff that the department does.
From a veteran's perspective, I would imagine that the suite of benefits that are offered now are more widespread than under the old Pension Act. Now there's income replacement, disability benefits, and a whole suite of things that weren't available to them.
In the end, though, I think it comes down to your particular circumstances. If you are a 75-year-old veteran or even if you are a 50-year-old veteran, who because of illness doesn't expect to live long, you'd probably want the lump sum. You don't want the monthly pension that will probably last you a few months or a few years and that's it.
If on the other hand, you're a young veteran at the beginning of your career and you have an injury, then you're probably looking at a pension that might be paid out longer than the lump sum award. Or you might be in the middle and hope to be buying a house and need the lump sum for the mortgage. It all depends on the particular circumstances of the veteran.