You also have to consider scale. If you're practicing "regenerative forestry", hack and squirt is probably the best way by far to accomplish it if you have sufficient parent trees left. A lot of shade tolerant species like beech, ironwood, and maple have grown to a point where they are taking over as primary species in many areas. And, in many cases, there is little to no regeneration of the once dominant species like oak because of the shade. Going through a stand using hack and squirt on midstory undesirables allows sunlight to reach the once ever present oaks. Controlling invasives at the same time or before is extremely important in this process to prevent them from using that now available sunlight to regenerate and shade out desirables. If you went through a stand just cutting and letting lay all the undesirables, in that circumstance, you could have an impenetrable mess. Cutting up or hauling out all the undesirables at that scale would also be unfeasible. Again, it comes back to the circumstances and your objectives as to what practices you employ.