Vueling's two frequent flier programmes: which one's best?

I am about to book a flight with Vueling and I got to the point where I need to decide which frequent flier programme do I wish to use: Vueling Punto or Iberia Plus?

It seems that, although, both Iberia Plus and BA's Executive Club use the same "currency", Avios, and they both belong to IAG, their frequent flier programmes, unlike, for example, Air France-KLM's Flying Blue, are still run separately.

I am a Vueling Punto member, although I have seldom used it, but I gave up with Iberia Plus and switched to British Airways' Executive Club it seems that for me the best option is to stick with Vueling Punto but I have made myself the following question:

Are there any specific advantages of being on Vueling Punto instead of being on Iberia Plus? I mean, if Iberia Plus lets you collect avios both on Vueling AND on other Oneworld airlines whereas the former only lets you collect miles on Vueling. What is the point of holding the Vueling Punto? or maybe the "Exchange rate" between punto and Avios is not that favourable?

Any frequent flier programme experts in the room?