FreeBSD kernel nat or natd?

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http://unix.stackexchange.com – As I notice more often with FreeBSD, there are always plenty of ways that lead to some specific goal. After figuring out which firewall I wanted (I choose ipfw) I now am completely insecure about which way to do Network Address Translation (NAT). As I have discovered now, there are two ways to to NAT, I could use the kernel space ipfw nat or I could use the userspace natd. The only one of these described in the FreeBSD handbook is natd. What I would like to know is what the main differences are between these? Which one is more popular. Off course I would also like to be able to fish, (HowTos)