On hold v Exclude from dunning functionality?

Hi All

Our users require the most efficient way to 'pause' a strategy when they are in the collections screens so that they can be confident that no more work items will be executed on the strategy e.g. dunning letters. They they want to be able to then re-start the strategy but it is important that the strategy doesn't re-set and start again with work item number 1.

I can see that we have the 'On Hold / Release' button and also from the menu, 'Actions > Exclude from Dunning'. What are the views on the difference between these functions, or whether there are any other options?