My experience is that both hulls are great but different. The plastics have a little more room in them and, with Green Dot, take about .5 grains to achieve the same velocity.
The plastics are quicker to reload because you don't have to inspect the hulls as closely as you do the twice and three times fired papers.
I think that the plastic hull is stronger than the paper hull and can handle higher pressure. Years ago, I experienced a few paper hulls, that when loaded with 1 1/4 oz. of shot and 25 grains of Herco, allowed gas to escape when fired at the edge of the rim.
In my younger days, I used to load 40 grains of Blue Dot, 1 1/2 oz. of shot, a F209 primer and the RP-12 wad in a paper hull with no problems (other than heavy recoil, long blue flame at the muzzle and super loud report.) That load was a money maker in games shooting.
I prefer the paper hull over the ribbed plastic but both are great hulls.
Federal papers have a fiber wound base wad which the Federal Gold metals don't have. As Shipbuilder mentioned most shooters believe the papaer hulls are softer shooting when compared to an equivlently loaded plastic hull shell and I believe it's so.
Federal also make a plastic hulled shell with a fiber wound base wad which are sold as red hulled Estate target loads and brown hulled Federal field loads which are normally found in Walmart. Both these loads seem to have lighter felt recoil than other plastic hulled shells which is attributed to their fiber base wad.
I reload Federal plastics - 12SO wads for 1 oz. loads with 19.0 grains of GreenDot, #8 shot and Federal Primers. Seems to work good. I sould say that in the last 3000 rounds or so........2 or 3 have seperated down at the brass, but not an issue at this point.
Other than shooting in heavy rain I love the Federal Paper shells. If they cost the same as plastic GM's I believe more people would buy them. It seems the hulls are very much in demand as once-fired, from the gun to the bag. I've never understood why they cost more. If they cost the same would you prefer them?