Lifters...More Effective Full Body or Body Parts?

I am currently lifting 6 days per week and rotating between 2 body parts per day. I do chest/tri's, back/bi's and then legs/shoulders. I do 4 exercises for each body part and then 30-45 minutes of cardio.

I am noticing that a lot more people do a full body workout 3 days per week. Which has proven to be more effective for you lifters out there? If you do full body, then how many exercises do you do for each part?

Thanks!