The good news is forgings are very strong with superior fatigue life due to their continuous micro grain structure. The bad news is machining a forging ruins its grain structure continuity which causes stress risers and reduced fatigue life. Castings are typically not as durable as forgings, but grain structures are not an issue in castings.
Castings allow more complex shapes which makes them less expensive to manufacture. However, metallurgy plays a larger role in the ruggedness of castings.