Here's an article I wrote in 2006, on the then-burgeoning interest in multiple, first-party speedlights as a way to learn lighting.
Derrel's Photography Blog: Multi-Speedlights or Studio Lights?
Speedlights are fine for experienced shooters, but they retard your progress compared with lights that have modeling lights.
Budget and portability issues really come into effect here. "Studio" lights are generally more expensive vs. some one getting into lighting with small manual speedlights. If portability is an issue, then you can carry a few speedlights, triggers, and compact stand in a much smaller space than what's needed for a larger setup with more powerful lights.
If a person is using a light that requires AC power, then they'll need a battery for shooting on location where there is none available. They won't really be able to use monolights in that situation because it'll suck the battery dry way too quickly.
There's also a lot more modifiers available for speedlights that there were 4 years ago. Softboxes, beautry dishes, barn doors, etc...
It all depends on the OP's need and budget. If he can afford a more powerful set of lights and that's what he wants, then go for it. If they need absolute portability or the initial cost is a factor, then they may be better off with some speedlights to start off with.
Not to mention, both types of lights can be mixed and matched and eventually it's always better to have both types. That way, you're never stuck in the situation of having one and needing the other.