I like both and have a community tank plus a solo wet pet tank.
I think there are keys to success with both. Getting a cichlid community right can be frustrating, and a lot of trial and error, plus a load of experience, a good piece of luck and a spare tank space for emergencies are all needed.
For a solo wet pet, it's pretty key to choose a confident, people-interactive fish, and then it's also important to place the tank in a place with relatively high people movement past it.
This keeps the fish confident, and provides lots of interest and interaction for the fish, which is obviously not getting any from tankmates.
Can't say how much enjoyment I get from my flowehorn who is, as I type, staring at me from 2 feet away. His tank is right in the "epicentre" of the house. Everyone loves him and he clearly loves life (and food !). He also instantly attempts to kill and living thing (apart from my arm) entering his tank.
My SA community around the corner, by the TV, is just as enjoyable. Watching the interaction between the fish is great, with contrasting colours and shapes. They are also quite people-orientated as the tank is still in a medium people-movement area. I find many, many speces of fish do not cope well with very exposed tank positions and high people movement and it's just as important to match the tank position with teh species as it is to match species within a tank. Ah well, I'm rambling now....