Steve compares “graceful degradation” with “progressive enhancement.” Mostly he takes issue (rightly) with the rhetorical spin that the former applies to the idea of building a website. But I think you can compare them with each other as if they were two different types of crowbar instead: two ways of prising open the task in hand.
Drupal's Form API handles so much work for you that you'd be a fool not to use it as much as possible.