Bawdy, do both.
I spent alot of time this weekend researching the same question,
What I've found (the short answer):
The low intensity, long duration (LILD) cardio is best for fat burning, while HIIT helps strengthen your heart/lungs........plus it's alot less boring.
When to do each depends on your lifting program.
Some say to do HIIT on your off days from lifting, and to eat protein prior and prot./fat after, just as for weights. I prefer to do my HIIT after lifting (and a short break, about 30min), as it is catabolic, and I figure then legs can rest the next day, but I'm finding that harder to do as my leg days get more challenging.
Now that I'm doing a CKD, the rules have changed, and I do HIIT 2 days a week, on off lifting days, and LILD 3 days.
As with everything else, you just gotta do something, and keep track of what works best for you.