Hi Jonathan and Chen,
LabVIEW is focus on measurement systems, and MATLAB/SIMULINK in dynamic simulation, so, If you run complex simulations, and your work is create/debug complex simulation models of controllers or plants, use Simulink+RealTimeWorkShop+StateFlowChart. LabVIEW has no eficient code generators for dynamic simulation. RTW generates smaller and fastest code. If your main work is develope systems with controllers and GUI for machines, or you want to deploy the controllers on field, use labVIEW.