I've stripped cabinets using both methods. First was with Motsenbockers water based remover. Works pretty well but does take several applications to get all the layers. No harsh odors either.
Then, on advice by a Pinsider, I bought a Festool RO125 Rotary Sander. With that tool I can strip an entire cabinet/backbox in about an hour. The Festool unit is spendy but works very well. I've easily stripped 10 to 15 cabinets with it. You can certainly use other sanders but it may take quite a bit longer. With any sander, care must be taken so as not to do any damage to the wood.
Bottom line, either way works. I'd suggest trying both and see which works best for you.