As someone who started out working in an open office and now works someplace with half-cubes, I honestly prefer the open office.
The ability for an open office to foster pair-programming and intense collaboration was a real benefit, though it certainly doesn't suit everyone.
On the other hand, the half-cubes have all the same problems with regard to distractions, but are also major hindrances to working together in my experience. Developers are farther away, the space feels a little claustrophobic, and there are comparatively few good pairing stations.
The ability for an open office to foster pair-programming and intense collaboration was a real benefit, though it certainly doesn't suit everyone.
On the other hand, the half-cubes have all the same problems with regard to distractions, but are also major hindrances to working together in my experience. Developers are farther away, the space feels a little claustrophobic, and there are comparatively few good pairing stations.