Ask HN: How do you draft your talks and presentations?

I've been doing more speaking engagements lately, and I've been going back and forth on how I write my talks: either as a complete written speech, or as a bullet-pointed outline. I see (and experience) pros and cons to each approach, but I haven't decided which one I prefer.

How do you draft your own talks and presentations? I'd love to hear your point of view on what's most effective, particularly for 30-60 minute talks.