If you enjoy the intricacies of surveillance and shadowing, a realistic approach is probably best. If James Bond is more your style, cinematic is the way to go. Battles beyond the stars. Realistic space battles will likely be dull and unexciting. The vacuum of space permits no noise or explosions and laser weapons would be invisible without lots of particles in the air.
Cinematic combat is the stuff of movies and TV, with lots fireballs and loud noises.
On the other hand, facing the real world dangers of decompression, zero gravity, and the like could form the basis of a cool setting. There are, of course, many more types to choose from. The GM is limited only by his imagination and the sources from which he draws inspiration. Everything else is window dressing in the end. A GM should choose his setting based on what he wishes to do with his campaign.