these are two different approaches: when you use analog out you are free to send the signal into a channel strip, from there you can enter your audio interface (this path is Impossible using usb out). Also, not all converters sound the same, there are interfaces with internal dsp for example, some will convert in 192khz 24bit etc.
I would add that if you are recording more than one instrument at the same time, when using the usb out you will have unnecessary complications (aggregate device procedures) and latency mismatch issues