My two cents worth...
Having been in the IT business for over 25 years, I can tell you that through plenty of empirical observation, electronic equipment prefers to be left on.
The largest factor in premature equipment failure is caused by thermal effects. Many of the surface mount components, IC's & processors run very hot ( have you looked inside any new amps or PCs recently? ). Cycles of heating and cooling cause the 'packages' and their soldered connections to expand and contract, leading to and increased possibility of failure.
Almost all recent equipment will use only somewhere between .5 & 1.5 watts of power in standby. Basically, without going into details, standby mode powers off all current drawing devices in the unit and maintains a keep warm supply of power the the solid state devices.
All this being said, it's mostly a matter of personal choice...