I might step on some toes, but it doesn’t cost any more to get a setup that is nearly optimal, instead of “reasonable” for the most frequent use.
Example- avoid pfd mounted rigs. That comes from WW use in what is called a “live bait” rescue, or for actually belaying. This is a safety issue for towing, it is potentially hazardous to your health. Look at it this way- do you want to attach a tow line to the back of your neck? Nasty forces at work on your body; compare to the force on your body using a waist belt tow. A pfd mount would simply be in between, so go for the waist mount.
Next, a waist belt tow is versatile- you could hand it to someone else in the group (many reasons why that can be a good idea); they are easily clipped together to create a super long line tow (towing someone off the beach through a surf zone, enough length and the tower is on the outside). They also disengage a bit faster than the pfd attachments (quickness of release can be crucial; if you can roll, practice releasing the tow and actually pushing it away from you while upside down before rolling-try that with a pfd mount).
My fave is the North Water, especially in its latest form (I have an older one, and had to modify it quite a bit). 55 ft is good for several reasons, from meeting Canadien boating requirements, keeping the towed boat away from you in following seas, and also for tying up boats, or even hauling an empty boat up a cliff face.
Boat mounted tows are usually custom jobs, but easy to do. A cam cleat and a fairlead, a simple throw bag, add a float and a clip. Advantages over a waist tow is- absolutely no shock to the tower (rough water, or perhaps just a smaller, less strong paddler, are good examples), so therefore the most safe, the quickest release, and most important, adheres to the “clean line” principle. Which means that, after a quick release, the line which is still attached to the towee’s boat (and cannot be unclipped by them) does not have anything that could get jammed in anything.
Disadvantage is that you cannot hand it to someone else in the group, a bigger issue is that it can be a royal PITA to re-rig in bumpy water.