An optical chronograph is what I would rather use during load development. I shoot ladder tests and group shots based on the ladder results. I don't want a dang thing clamped to the barrel. It may not cause a problem depending on barrel contour, but I would be second guessing the load. However, the Magneto provides a more accurate telling of the true velocity of the load since it is not light dependant.
So, unfortunately, the answer is that you need both.