Id generally suggest mining. But with all the hashing power soon to come online in the coming months it makes me wonder if any of the currently available units will ROI. Plus BTC price generally goes up with difficulty so maybe investing is the way to go. I guess if I had 10k id invest half and buya preorder 2TH from somewhere with the other half and see how it igoes.
according to http://mining.thegenesisblock.com/ SOME of the current asics are still profitable. They would have been insanely profitable if you bought them before the giant jump in price.
But the ebay prices (the only place I know of to reliably get an asics miner overnighted TODAY) are reflecting the BTC increase, so most will only profit for 60 days or less before going red.
That said...
A preorder is scary business! Which company has the soonest ship date from TODAY with the highest overclockable system?
It should be pretty easy to weed out any that are going to be instantly DOA - eg knc jupiter, 13k, shipping as late as Q2!! Anyone who gets one past March (end of Q1 beg of Q2) is SOL. That's a crap risk