I recently switched from an Oil Guard to a Frantz for various reasons (the sample above was run with the Oil Guard)....nothing wrong with the Oil Guard, but the TP method fits my needs more than the Oil Guard element (plus the oil guard element is $13).
The Oil Guard element will let you go longer between element replacement, but I like the fact that I'm changing out the TP every 3k-4k miles and adding an addtional quart as makeup and getting more additive package in with my current oil. I also wanted everything under the hood for easier servicing...the Oil Guard was too large to fit under my hood.