If I understand the language I prefer to watch the original, even without subtitles, because they are a tad distracting, as you said.
For animes, usually produced in country where I don't understand a word, I prefer dubbing.
As you said, the characters are drawn, who cares about lip sync? And who keeps looking at their mouths all the time anyway? It's just a matter of getting used to.
We also have excellent voice actors for stuff like that. Especially when it's for a younger audience, one should not force subtitles on the kids and just dub the thing.

Unrelated, but: Another point you mentioned is the main reason I hardly watch anime from japan, though: The jokes and references, cultural differences are impossible to translate either in written or dubbed form. I often wonder why the hell those characters are reacting the way they do and what they are talking about. If I can't refer to them my enjoyment of a show is already diminished.