A little piece of missing information: You describe some of the differences between MBR and GPT, but in my opinion you lack the most important one: MBR can only host partitions up to 2TB. Obviously, if you are trying to create a partition bigger than this, you need to have a GPT disk. More importantly though, if you think your partition can possibly be resized to more than 2TB in the future, you should go for GPT to allow for this.