I learned more or less on the whole-language method. As I understand it, neither method is really "better" than the other, since some kids learn better on one method, and some on the other. I learned to read long before I got to kindergarten, so I don't really remember it, but my parents tell me they used "whole-language".
Studies have show that is not the case for most all students. Overwhelmingly, children learn to read better if using phonics...especially those who are not from homes of English speaking families. Children who are slow learners also do better learning to read with phonics. Those children who are least damaged by whole language are those children who are above the norm in learning.
Phonics is better for the majority of kids. Overwhelmingly, the teachers I encounter think teaching phonics is important. The trouble is that it is boring. Created readers (ones that are written to focus upon a particular sound or combination) are inane. Example: Sam sat. Sam sat on the hat. Oh drat!
Now, instead of neglecting good stories in favor of phonics instruction, teachers are trying to give children both. The school I am currently in teaches one hour of phonics per day followed by reading aloud or guided reading of a "real" story with characters, a setting, a beginning, middle, end, etc.