It is a lot of personal preference.

You can't say that all wood is better than all nylon, or vice-versa. Over the years, props have changed. Old pure-nylon props were HORRIBLE, but you never see those anymore. The black Master Airscrew (MAS) props have actually been re-designed at least once over the years. It also seems that some brands are better in some sizes, while other brands are better in other sizes.

In my opionion, in the 9-12" sizes (where I have the most experience), the black MAS props are rather in-efficient, many wood props (Zinger and new Topflight "power point" props) are better. But the APC props are better still, and they are fiber-reinforced nylon like the MAS props.