It seems to my team that you can do any number of things to your rope, so long as it follows the few guidelines. This means you could climb very reliably. I personally think that you should supply your own rope, and have one or two backup ropes, in case one gets damaged. Using the supplied rope creates inconsistency and is overall not reliable, and you can't get the benefits of knots or special material.
My team has strongly considered using a certain climbing rope that has retroreflective fabrics weaved into it, to help with positioning, similar to the one shown here:
http://searchgear.com/pmiretroreflectiverope.aspx
However, to answer your question, there is not a definite "best kind" of rope, as it depends on your team.