To really answer this question, I feel you MUST look at the scenario of Freddy Krueger going up against Jason Voorhees, as evidenced in the film
Freddy vs. Jason (2003).
On one hand you have Spike, a man with a slow and steady Jason Voorhees-like way of achieving his ends. This is a method of battle that has proven to work very well over time. He will sit in that summer camp for years, neigh centuries (see Jason X) just to win his battle. No matter how many times you make fun of his plate and fork or mock his love for doo-wop he will keep coming back, because he is an indestructible force of nature hell bent on one thing: ridding the world of horny teenagers.
Fredericks, to ride this metaphor all the way home, is the Freddy Krueger to Spike's Jason. All of his impulsive, chaotic "attacks" are delivered with a sarcastic wink to the camera that the Spike/Jason archetype does not have. Like his namesake, Fredericks lives in a surreal New Port Richey/Elm Street dream dimension from which he can reach out, into the real world, to blow peoples minds. They both also have disturbing laughs.
Experts (creepy, pathetic experts) will tell you that this debate can never end, so it's probably not worth your time to hash it out. I personally have to go with Spike, for the reason that he is nigh invincible.
All of that aside, I think this youtube video explains it better than anyone could:
http://www.youtube.com/watch?v=dwwZvkVTaC0