It is my understanding that the wedge type is superior to the piston type. The reasoning is that the piston type pushes the tool holder away from the QCTP so the contact surfaces oare the dovetails and the piston. In contrast, the wedge type pulls he tool holder in so the contact surfaces are the wedge and opposing dovetail and the body of the QCTP. This in theory, results in a more rigid and more reproducible mounting of the tool holder.
That said, I have a piston type and haven't had any problems with it. Mine is a Grizzly. I haven't used any other brands but based on the tool holders, the Shars appears to be better quality. I have had no experience with the Phase II QCTP system though.