I do not think it is right to say that both typicals and atypicals have "equal" side-effects. They have
somewhat different side-effect profile. The choice would depend on your patient: e.g, danger of metab syndrome vs danger of parkinsonism - what they would rather, what you would be more wary of - gross oversimplification, but you get the point.
Then, from the symptoms point of view, you need to establish whether it is positive or negative symptoms that are most prominent/distressing - different drugs have slightly different "symptom profile" as well, ie some are better at alleviating positive symptoms, and others work better on negative symptoms.
If you are interested in the UK official guidelines on choosing antipsychotics, you could find them on
www.nice.org.uk - go for Our Guidance > Mental Health > Schizophrenia.
From my personal experience (I worked in one of the leading departments of psychiatry in the UK), I can confidently say that I have not seen a typical antipsychotic chosen as a first-line medication for a newly diagnosed patient ONE SINGLE TIME. Depending on personal preferences of 4 attendings I worked with, the first-line choice was either aripiprazole, olanzapine, risperidone or quetiapine. If you ask my personal opinion, I would go for risperidone because it has been around for longer, has less metabolic side-effects and has been proven somewhat more effective than other atypicals.
However, if you are talking about rapid tranquilization, this is a different story altogether, and I have never used (read - have never been allowed to use) anything other than haloperidol +/-lorazepam.