I followed this guide to a "T", and it worked exactly as expected. But, this guide was first posted in May 2014, and it is now Feb 2016. This guide recommends using lighttpd as the web server, but ownCloud dropped official support for it in 2015. Lighttpd works, but the fact that they no longer officially support it makes me nervous that it may stop working with some random ownCloud update.
If I were to install ownCloud again, I'd try using nginx as the web server, as it is light weight, and still supported. I'd stick with SQLite for the database, as it is quite frugal with the resources, and that is what I want for my single-user installation, running with a G3258 CPU and 16 GB RAM.
Manual installation Pros: you know exactly how it is set up, so you have some chance of being able to support it when things break in the future.
Manual installation Cons: it takes more time. Figure on at least two hours to watch the video, do the installation, configure ownCloud, etc.