Dang, I didn't realize sriracha had such a following. Fresh hot peppers are good -- they give a nice, bright brassy flavor; Dried chili peppers give more subdued, complex flavors. Sriracha delivers a spicy kick with a very pure and very simple chili tone to it, with no aftertaste from the vinegar (This is a big deal). The chicken excels in supporting roles. It blends seamlessly into tomato sauces, for example.
(though I usually add my own garlic)
tabasco, on the other hand, is its own beast, and adds its own unmistakable flavor to whatever you add it to.