I would never use stretch bandages, by which I mean ones that are half elastic, in fact I don't believe in bandaging for exercise on a regular basis, as it heats the legs.
I use boots to protect against knocks, but not to support as I want the ligaments to strengthen.
I use fleece for stable bandages if horse is on box rest, and all I do is unfold the bandage on the leg, not tight wrapping.
I know dresssage people use bandages, but they have their own ideas, and obviously are expert at putting on bandages, which must be even in pressure and never pressing on tendons.
As far as I know, stretchy exercise bandages are always supposed to be used with gamgee/padding underneath and should never be left on for prolonged periods as they can put on much tighter than non elastic fleece bandages. Apparently the supporting function of bandages is subject to some doubt as its actually impossible to support tendons by wrapping stuff round them. To my (tiny) mind, boots offer more substantial protection from knocks and scrapes and probably allow more airflow. But I am no expert (in case I get shot down!).