I think that really depends on your skill set. Using EVA can be an easier choice if the prop has a ton of organic shapes. It sands easily and detail is easy to burn in it you have a steady hand or use guides. The hardest part in my opinion is how you deal with the seam where multiple layers join, that is, if you choose to take a layered approach. I believe you can order EVA online that is untreated on both faces, so joining would be easier. If the design permits, then you can also hide most ugly seams with bands of thin craft foam or even a filler if your chosen method of sealing is thick enough.
All-in-all, it's a pretty straight forward approach to making convention-safe props. Just don't expect supreme levels of detail, foam has limits. Using insulating foam is fun because of how quickly you can produce props compared to other methods. I don't really like this method though because I haven't been impressed with how it holds up to general ware. Collects little nicks and dings to easily.