I would do the stand. Its SOOOO much easier as you can spin the engine around and even upside down if needed. BUT, you will need the adapter ring or mount ring to mount it to a standard 4 arm engine stand mount. You can just use the 4 arms, but you risk damaging the case in a few places. You also want a stand in case you ever want to do trans work.
So, now you want a stand... which one... Get the one with 2 legs like a 'U' so you can put your floor jack in the middle.
Then stop at your FLAPS and get a big drip pan, cut some scrap (~3.5'x3") to fit across your stand bottom to support the front of the pan... All set to catch the remainder of the oil from rotating the engine
Below you can see my HF stand w/ 4 arms and adapter ring. You can also see the cardboard box top and drip pan under.
Winner Winner Chicken Dinner!
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Michael 
'82 Euro SC 'Track Rat' 22/29 Hollows, 22/22 Tarrets, Full ERPB F/R, Rennline Tri Brace, Glass bumpers, Pro 2000's, 5 pts, blah blah blah
'13 Cayenne GTS