Re: Memory arbiter
Basically, comb logic and sequential logic is the same except that the timing is different. Therefore, you can implement in both depending on you timing budget of you design. If your design is not timing critical, just use comb logic since it is simple and gains in area and power.
For logic design, there are two things that you will concern. One is throughput. The other is latency. Your constrain is system requirment and area. Good design always has a good trade of between performance and area.