First.. a clarification.. you're not picking one option, you're picking two.
A MBR disk can be setup in windows as both a basic and dynamic disk.
A GPT disk can be setup in Windows as both a basic and dynamic disk.
So, first, Dynamic vs Basic.. personally I generally stick with basic disks as I don't care much for dynamic disk. Yes, you can do some neat stuff with dynamic disks (mount points, spanned volumes, etc..) and if you are using a software/Windows RAID, your only option is dynamic disk.
Again, I still prefer basic disk.. just be aware that while it is easy to convert from basic to dynamic, there is no easy way to convert from dynamic to basic.
The MBR vs GPT debate is a newer debate as GPT is newer on the windows side (since 2003 SP1 I believe). Personally, I've never had the need for GPT - haven't had to create partitions greater that 2TB or more than 4 primary partitions. If you are doing any microsoft clustering, don't use GPT disks.
from a performance, i don't think there is much difference between them (all other things being equal).