if I have an option I use a mixture of procedural and object oriented instead of either.
if I have to work with one I will use the Extreme model, as it allows for better control over code quality.
the rad model is bad code.
the extreme model is better code, but is targeted at custom one off apps. with the ides of adding functionality the customer wanted at a later date.
great business model, get base functionality with good code, add desired features afterwards as they become available. [ screams for a plugin driven app doesn't it? ]
if it's a company owned app for wide spread distribution, my preffered method of defining the objective and taking as long as needed to get desired functionality with good code seems best.
better resulting app with fewer update releases to add desired functions. this allows the app's next release to be worked on with fewer coding breaks to finish functionality that should have been in first release, which keeps the app having better code and fewer bugs.