Hi Shane - if the goal is to point-edit the curve with a manageable number of points, generally Rebuild. Refit will not necessarily - generally not - give you a curve that has nice paramaterization for editing.
Another approach is to start single span curves or surfaces with 3(x3) points and then increase or decrease the degree. increasing the degree won‘t change the shape, while rebuild will almost always modify the shape. In many scenarios (especially in matching situations) the deviation created by rebuild is contra-productive. The problem with refit is that you have less control over the output. When you start with very few points and only slightly adjust the cp count/degree on demand , then this will always simplify everything. However this is rather a single-span modeling technique, which I primarily used in Icem Surf, rather than in Rhino. But its universal, and also works in Rhino