Best way to use image styles with Media and WYSIWYG?
It completely depends on your requirement. If you are looking to apply particular styles through wysiwyg then view styles is definitely the right option.

If you need image style (height and width) to be chosen during wysiwyg then go for this option

a) Media + Wysiwyg -: https://drupal.org/comment/8009717#comment-8009717 

b) Wysiwyg + Ckeditor -: https://drupal.org/node/1956778 (patch 37)