IN or EXISTS

Hi all,

I have read things someplace saying not exists was better than not in...
or something like that. Not sure if that was for in/exists and not
in/not exists, and for a lot of records or not.

Here is my setup:

My website has a general table, let say 60k rows. Its mostly read-only.
Every once and a while we get updated data, so I:
create schema upd;
create table upd.general(like public.general);

Then I dump the new data into upd.general. (This has many table's and
steps, I'm simplifying it here).

For the last step, I want to:

begin;
delete from public.general where gid in (select gid from upd.general);
insert into public.general select * from upd.general;
... 7 other tables same way ...
commit;

Most of the time upd.general will be < 500 rows. Every once and a while
things get messed up and we just update the entire database, so count(*)
upd.general == count(*) public.general.

My question is:
fast is nice, but safe and less resource intensive is better, so which
would I probably like better:

delete from public.general where gid in (select gid from upd.general);

or

-- currently dont have and index, so
create index general_pk on upd.general(gid);
delete from public.general a where exists(select 1 from upd.general b
where a.gid=b.gid);

Thanks for any suggestions,

-Andy