rate limiting strategies: token bucket versus leaky bucket

Hey everyone, I've been thinking about rate limiting lately, especially for APIs. I know about the Token Bucket and Leaky Bucket algorithms, but I'm curious about how they work in practice. When have you found one to be clearly better than the other? Are there specific situations where you'd really recommend one? I'm trying to figure out the best way to do this for a new service, and I'd love to hear about your experiences and any problems you've run into.