It really depends how clean you want your sleeving to look. The biggest issue with sleeving is "bleedthrough" - how much of the color of the wire will show through the sleeving. MDPC and FTWPC are the only sleeving I have used that do not show any of the wire color. Darkside Sleeving from...
Paracord is definitely cheaper and a great option when first learning to sleeve. There is some great info at overclock.net on sleeving and some good videos on both MDPC and paracord sleeving.