tl;dr I tend to prefer properties when I have the luxury of designing the components.
There are a few other things to keep in mind, though:
First, wire "releases" a component (allows it to be dereferenced, e.g. via $ref) at a very specific time in its lifecycle: after the "initialization" lifecycle step, which is the step where the "init" facet will be executed. That means that a component's creation, property setting, and init method(s) will run *before* any other components can get their hands on it. This is intended to give you enough "room" to ensure that a component can't be poked too early accidentally. Connections (via on, connect, aop, etc.) and the "ready" facet all run after that.
So, while the choice of constructor args vs. properties doesn't have a bearing on much in terms of collaborating components, it's important to note the difference between "init" and "ready": init is guaranteed to happen before a component is allowed to be dereferenced, whereas "ready" happens as late as possible, and perhaps importantly, after connection type facets are applied.
Another important thing, as John mentioned, is dependency cycles. It's technically impossible to resolve a dependency cycle involving constructors, whereas dependency cycles between properties is possible, in many cases, to resolve. So, typically its better to go with something later, like properties, if you can.
I tend not to use "init" for setting dependencies, mostly because it means I have to go and write an init method that, usually, just ends up setting a bunch of properties ... which I could do with wire directly anyway. There are times, though where having an init method makes sense. For example, sometimes a good pattern is to set a bunch of properties, then poke the component via "init" so that it can do some necessary programmatic initialization work using those already-set properties. Since init is guaranteed to happen after properties, but before the component can be dereferenced, that can work out nicely.
A more superficial aspect of this is that I tend to find using properties to look a little nicer in a wire spec. More than one constructor tends to nest more deeply and be uglier to my eyes.