We spent our first year using a gridded whiteboard. But it felt...uninspired. The rooms really didn't have any flavor.
I tried several products including Campaign Cartographer and the Dungeon Tiles.
In the end, I've settled on Dundjinni. I can draw stuff up relatively easily and add some nice detail(tables, cages, pits, etc). This is the stuff that my players really enjoy as they can then use it in combat, or interact with it. It really draws them in more and lets us all "see" the same thing.
Yes, it is a bit more work, but not much, and so far, totally worth it.