I go with the route Jake uses, and I ferment in the glass carboy because it is not at risk of getting scratches that hold potentially infection-causing bacteria, as plastic is susceptable to.
Also, I like being able to see the fermentation process, though glass carboys should be covered since hops which have been boiled and then exposed to light will be skunked.
Fermenting in a bucket should work fine as long as it seals properly (some wine ones don't), and as long as it is cleaned carefully so as not to scratch it.
You can also ferment in the soda kegs.