I definitely recommend S/PDIF if you have the option. I'm using a Focusrite Scarlett 18i20 with a couple of S/PDIF (input/output) cables. A lot of people use Studio One, though my DAW of choice is Reaper. One reason I prefer Reaper is its sheer flexibility. The user interface, appearance, behavior, all of it, everything is customizable. Another reason is that it's extremely stable. I'm using Windows and I can't remember the last time it crashed. Before I started using Reaper, I was using Samplitude. I was extremely familiar with and loved Samplitude. However, I started using Reaper because I was having issues running an older version of Samplitude in Windows 10(the newer version had some bugs). I didn't want to switch DAWs, but I didn't really have a choice. However, after spending a little time configuring Reaper, I actually ended up preferring it over Samplitude. When I try to use Samplitude now, it feels a bit lacking and unwieldy. I should also mention that Reaper is free to demo, and when the demo runs out, you can still keep using it. That being said, Reaper costs $60, which is approx. 1/7th the price of Studio One Professional.
Anyway, I play through Sennheiser HD600 headphones exclusively; however, I use a pair of Mackie HR824 monitors for mixing.