If you are going to use Windows firewall, then you really should use a Guest Account as much as possible or add an anti-executable like VooDooShield or NoVirusThanks Exe Radar Pro.
The reason is that some malwares can disable Windows firewall and UAC while using an Administrator account.
I requested Alexandru, the BiniSoft Windows Firewall Control developer, to add a feature to WFC = alert user when Windows firewall is disabled. (I'm not sure if it has been implemented yet... or even if he is going to implement it at all).
Of the two, I recommend EIS over EAM. EIS is much better suited to typical user as it's correct use and interface are easier to grasp and learn for typical user. More importantly, EIS application firewall is much better than Windows firewall - even if user adds WFC.
The vast majority of users will be much better served and protected by EIS than EAM; EAM requires some advanced knowledge that is not readily apparent.