Paul,
When you use the property node and add waveform processing VI (like in the example), you are making calls into the Scope driver. This means there is code in the driver to filter your signal. When you use the other stand alone filtering VIs in LabVIEW such as the Bessel, Equi-Ripple, Buttworth etc you are using LabVIEW functions and you make calls into the LabVIEW.
Both the scope filters and LabVIEW filters are digital/software filters. There is not much of a difference between using either one.
Regards,
Jesse O.
Applications Engineering
National Instruments
Jesse O. | National Instruments R&D