absolutely take the bus ! but make sure it is the direct bus . the company that runs it has both local and express buses . ( one is 50-55 minutes the other is an hour and half ) the train leaves you twenty minutes away and then you must take a bus anyway
I prefer the fast train.
If you read this link - Day trip to Segovia - you will find a map and in my opinion it does depend to a certain extent on where you are traveling from in Madrid and how easy it is to reach the Moncloa interchange or the Chamartin rail station. It would be a nonsense to recommend a train when you are staying closer to Moncloa.
Personally I like the bus.
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