I think it depends upon your setup and space. I have a small (maybe 250sf) totally enclosed pen off the chicken house that opens up to about a 1300sf run (or 800sf more when I open the gate to the duck run), but because 30 chickens can murder that much grass and greenery in no time, I free range them every afternoon until roost time. I'd rather play in grass than mud anyday too. They are WAY louder when in the run (because they want out) and quiet as can be whilst free ranging. I usually wait until they seem done laying for the day because a daily egg hunt would take too long in the upper 3ish acres they roam around in but I'm sure I lose some eggs here and there.
I was nervous to let them free range at first due to predators (we have hawks, bald eagles, coyote, bobcat, cougar and occasional bear) but they are a billion times happier, eat less of their expensive organic feed and lay way more eggs. Out of my 30, two are boys are only 12 are laying so far but I get an average of 9-10 eggs a day despite short days, no lights and nights in the 20s and 30s. I'm totally convinced it's because they get to run around all day -- before they were free ranging, I was getting maybe 6 or 7 a day and only have 1 new layer since then (and only as of two days ago). So, I think free ranging is a quadruple win, personally.