Hmmmm. It is an interesting question - to watch or wait? In some ways, it is like 'Which is better, the movie or the book?'
The mind is the most powerful driver of eroticism and hearing your wife recount, in explicit detail, how she was picked up, taken home, and fucked is very arousing. In the cuckold's mind, it becomes a 'perfect' union, with the generated images representing a potent mix of the details - as told by the wife - and the imagination of the cuckold who has had to endure hours of glorious arousal, thinking about what his hotwife is doing.
I have always enjoyed 'waiting'. The hot story and the creampie makes the wait worthwile. But having said that, there is something special about seeing your wife flirt, and kiss and caress. And then there is the moment of penetration and the moment when he slams into her, spurting his potent seed into her promiscuous pussy. These moments are hard to beat too.
My advice is "Do both". Each provides an exquisite pleasure. 🙂