Bucktails have caught alot of fish, chutes haven't been around all that long. But, as already been mentioned, chutes seem to work better on the bigger fish in the spring and fall and bucktails are better on the schoolies in the summer. Back in the day, before chutes came along, there was a bucktail known as an "8 Ball" which, as I recall was made by "Chesapeake Bay Lures". It had white real bucktail hair, black head with white and red painted eyes and came in a variety of sizes. That bait caught a ton of fish. Getting off topic here but I always include a bucktail or two in my spread and they still catch.
I run both. Most my tandems are double bucktails and my solos are chutes. Both catch with the swim baits. I think the chutes just make for a larger presentation in the water. I am weird in the sense that I troll most my tandems with 9" on the lead and 6" shads on the trailer. My two largest fish ever came on a tandem bucktail and both on the 6" trailer