These are the sorts of decisions that every designer must learn to make, and be able to defend his/her choice depending upon the application.
It is good that you know that there will be wasted energy (heat dissipation) of 1.9Watts - in some cases this may be acceptable, and in other applications, not. For example, if I am making a circuit for an audio or other small analog signal filter or gain block that I wish to be very, very clean (no switching harmonics from power rail) for precision sensing, I might choose to be wasteful in favor of possibly cleaner power for my analog circuit with the LDO. Or if this is for a cheap, inexpensive device that will be produced in the millions and I have an adequate heatsink to use and saving the cost of an inductor is a big deal, I may choose the LDO. But, if I need to be energy conscious (battery powered devices) and maximize the run time of the unit before the battery needs to be replaced, or the price of the added circuitry parts for the switcher circuit is small compared to the price of the product, I may choose the switcher. EMI is another valid argument for some applications, and other applications it may be of little consequence. Heating of adjacent parts, overall product reliability are other valid arguments, too.
In many cases, there can be a perfectly good set of arguments for either choice, and either is fine. But in other cases, there are clearly stronger arguments for one over the other. Since we don't know what this thing is powering in your design, I cannot definitively say which choice is better.
In general though, if your design/application will support it and without knowing anything else, I would recommend using the switcher just to be more energy conserving or environmentally conscious, and to provide the learning opportunity. If you tell us more, perhaps we can help you decide.
In any case, this has given you something to think about.