I just HATE wax
The only thing I like, is the smell, and the "ancient" touch because it was used back in the good ol'e days
I wont use time to list all the downsides, as they are well known and described thoroughly both here and elsewhere.
Pads are my favourite, but only because I got boards "made" so the art/colour fits okay (and often just without colouring).
If you got an amazing board with art decor or beatiful colour lines, you would most likely not find pads.will do anything but bad for your board.
So here the classic windsurf anti-slip works great, and many of the kite waveboarders around here has really found this to work perfect the last 1-2 years.
I dont know the "Monster Paint" - but it appears to be a smiliar thing to the windsurf anti-slip products (or simply salt or sugar coated in epoxy or polyester).
They work great, but as said, you can not "surf" on the board with such a deck, too rough.
For surfing you need wax, OR pads and wax IMO.
Pads alone are not as efficient when you lie down on your board, as pads and wax or just wax.
But for riding and kitesurfing, I find pads to work the best, no doubt, and without any drawbacks like the "list" wax got
I dont know anybody who uses the same boards for surfing and kitesurfing though - as the surfboards tends to be a liiiitle bit bigger and slower (rocker/edges) than typical kitesurfwaveboards nowadays.
But apparantly a few does this - so you have to decide what you want ?