Each clinical situation will offer different types of work settings.
Private practice, for example, makes more money per hour, you have more power to arrange the hours the way you want, but at least from my experience, it's much more labor-intensive, more emotionally burdensome, and you bear the brunt more from needy patients.
Hospitals, unless they're locums, will likely demand you work very structured hours.
The only thing I'd say against private practice other than the above is that many residents aren't quite used to it and don't know what they're getting into until they've actually done it. Most doctors I know their studied field but don't understand running a business. Medical school success is measured by multiple choice, not by your business acumen. Personally, I'd recommend against private practice until one has 1-2 years post residency experience under their belt and have taken some time to learn psychotherapy for real.
The other thing is that with the new changes in government healthcare, I can see several potential differences in reimbursement. How this will play out in real life I do not know given that you can read the policies all you want but how the gov acts maybe a completely separate reality. E.g. some insurance companies drive staff members up the wall when trying to get reimbursement even though their policy is almost the same as another place that is more cooperative.
Given the gov's track record with medicaire and medicaid, I'm anticipating gov healthcare to actually be a big pain in the butt to private practitioners that accept it. We'll only really be able to tell after it happens, but as most of us know, there are horror stories with reimbursement and the government, so I see no reason why another gov entity will be different.