I've done it three ways, multiple times. Once at the Palm Center (my least favorite since I'm coming from Sugar Land), several times from Dynamo, and multiple times from the garage by Moody Towers.
The Dynamo Stadium lot is primarily for Thursday night games. I highly recommend it for the Memphis game this year. I've seen some folks tailgate there, but I skip that because I enjoy the atmosphere outside the stadium for tailgating.
The Moody Towers garage option is mostly due to having 4 kids under the age of 9. I primarily do the light rail because they love riding a "train". It might be a little quicker than just walking across campus, or riding a shuttle from one of the outer lots on "architecture" side of campus. But then again, it may not be quicker. If it were up to me, I'd park by the Moody Towers or the Rec Center and walk through campus because I enjoy that walk....brings back memories. But the kids would think it's boring, long and would miss the "train".
Bottom line, if it's a Thursday night game, its a great option to park at the Palm center or Dynamo stadium......if it's a regular Saturday game, the only reason to park on campus and ride Metro is for the novelty of riding the light rail.....or if you're limited to only walking shorter distances.