Locally managed tablespaces are the way to go! I've been using them for a number of years now and I won't go back to dictionary managed tablespaces unless I have a really good reason to. In fact, Oracle agrees with this philosophy because future versions of Oracle will only have LMTs. There are simply too many benefits to LMTs not to use them, including automatically managing free and used extents, reduce bottleneck on data dictionary tables, free space won't become fragmented so as to be unusable, etc.
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