For a 3-month-old I'd say baby-led, for a newborn, well... but hear me out before you slam me down!!!!
After DD started feeding properly, by day 2, we quickly fell into a routine - her routine. She would wake up, around 7 in the morning, go straight on the breast, stay there for three hours, fall asleep and come off, 5 minutes later, wake up, SCREAM, back on breast, repeat until midnight, when she finally got to sleep, slept soundly for four hours, woke up, fed for 1/2 hour, slept another 3, woke up for the day.
Except for 5 min every three hours, she was latched on for 17 hours straight.
Except for my nipples being sore, and never getting to dry for a moment, and my exhaustion, that's ok, right? I was in seventh heaven! As long as it is helping baby be happy and put on weight.
Except she became more and more miserable. In the evenings I could hardly get her to feed anymore, she just screamed, for hours. And then at 4 weeks she lost weight.
Feeding more wasn't possible. A fantastic lactation consultant helped us, and the first thing she did was put dd on a schedule - not a very strict one, but still.
A feed started every three hours. I would feed her for an hour and a half (switch-nursing, to stimulate milk-prod. and keep dd feeding actively), then occupy her for 1/2 hour and then get her to sleep in the push-chair (because she hated slings and carriers, and wouldn't sleep on me). She'd sleep for 1 1/2-2 hours, then wake up and feed again.
The change in our little girl was huge! Suddenly the baby that screamed whenever she was off the breast became a smiling little darling who loved standing in my lap watching people.
It didn't make my life easier, DD's first year was still the hardest job I've done in my life. But it made her happier. I think she was really desperate to sleep. We have had sleep issues the whole time, first now, at nearly 2 1/2 does it seem to get a little easier for her to go to sleep.
When she was feeding all the time she was trying to sleep, and wouldn't feed properly. And my supply tanked. It took 6 months to get it up again.
But around 3 months she had dropped all daytime sleeps but 1 (2 1/2 hours), and didn't want to feed for over an hour any more, it was a bit of a struggle. Soon after the ped supported my suggestion of dropping the schedule. DD immediately started feeding for about 1/2 h every 2 hours or so, and a month later went down to 10-20 min for most feeds - every hour or so.
By now she still feeds more than 10 times a day (at 18 months she was feeding more than 20 times a day!).
However, trust me when I say, it is much, much easier to feed on demand than on schedule!
But my little baby needed the schedule.