VACUUM FULL vs backup/restore

We are copying a production database and then pairing it down
dramatically (perhaps removing 99% of records, most of which are large
objects).

It seems my options are 1) VACUUM FULL with a reindex_db; or 2) backup,
then restore.

Is there anything one does better than the other?  Our impression is
that the backup and restore will run faster (perhaps 2 hours), whereas
we have a currently running VACUUM FULL that's been running for 4.5
hours already.

Anybody have any experience on this?  Would a backup/restore essentially
create a minimally sized database with all fresh indexes?

Thanks,
David