Bruce,
I keep all of my library stocks in 7% DMSO, although fungal stocks
seem to work better in glycerol. My understanding is if you are going to
thaw and refreeze a culture, or at least partially thaw it, you should
use the DMSO. Glycerol stocks are good and keep for nearly as long as
DMSO, but once they are thawed - that's it. In any case, I have had good
luck with both methods. DMSO is more toxic than glycerol, so that might
be part of your consideration.
Hope it helped.
Maura