The way I've seen people around me use the dryer, for sure. High heat will ruin clothes more than anything else, especially if it continues to run after everything had dried out.

Back in university, we had timed dryers that could only do either high heat or tumble dry low for an hour. Rooms were too humid and cramped to air dry. Of course, I wasn't going to spend more money waiting for low heat to do its work. Clothes came out bone dry and metal zippers scalding hot. Only the large towels held up, everything else noticeably faded and thinned over a couple years.

Night and day difference once I got my own place with a condenser dryer. It takes longer, but everything is just dry enough at the end of each cycle. It's also a bit smaller so I have to air dry parts of larger loads, but either way, my clothes have held up much better ever since.