hi,
i do both & enjoy them equally. lapbooking & notebooking are different. i personally use file folders for lapbooking and i choose this route when i'm covering something that's not very prolonged (i.e. a book we read or a holiday, etc). for notebooking, i literally use a notebook (the kind with lined paper that you can rip out). we still glue and tape things on each page when notebooking, and it's lots of fun as well! the main difference in deciding what approach to use is dependent upon what the subject matter is we are studying. a notebook has lots of pages, so imo it serves well for ongoing subjects/topic. for instance, we use notebooking for science and social studies - i literally have two notebooks - one for each subject & we use them all year simply adding to it as we learn. the social studies one looks like a "passport" on the outside because we are studying continents and countries. for science, the cover has animals and plants, etc. glued to the cover, as that's the gist of science right now for my dd.
anyway - those are very much "my interpretations" of lapbooking vs. notebooking

hope it helps!