I vastly prefer freezing to dried basil (to be fair, I've never dried it myself). If you love pesto, freezing that after you make it is best. But sometimes you might want to use your basil for other applications. I found last year that tossing it into a food processor with garlic and olive oil, then freezing works well. You can then toss it into tomato or cream sauces that are Mediterannean. You could also use a more neutral oil, then you could use it for southeast Asian dishes as well (green curries, etc.)