I would have to say neither. I had to go out with some family tonight, and I felt closed in at the booth, especially being in the inside seat. But at the same time, if I were at an open table with chairs, I can freely turn any direction, spread my arms, etc.
So at a booth, I don't have to worry about everyone in the restaurant, but then again I have to worry about the people cramped up all around me. As for the open table, it is the otherway around, so it all depends on how well I know the people sitting with me, or who the people are at the other tables.