Mine is sort of in the middle. Depending on what time you are able to leave from work I would strongly consider it being closer to work but unfortunately my options are not so good close to work. If your child is in daycare, where are you?
My thought is that I would want to be as close as possible in case anything happens. My biggest thing though is that I get off at 5:30 and daycare closes at 6. It takes me 25 minutes to get there on a normal night. Throw in some rain and I absolutely cannot make it in time with traffic. On those nights DH and I are both headed there in a race to see if someone can make it before 6. I would love to have him either closer to my work or DH's work.
We picked daycare close to home. I am a consultant - my clients change and my work location is not consistant. I sometimes have the option to work from home, and over the next few weeks, DS will be at DC a few days, although I will not be working. For these reasons, we'd rather he be close to home.
But, if my work location were more stable, I would strongly consider selecting a place closer to work. I waste a lot of time away from DS while I'm sitting in traffic, and I have mom-guilt that he spends too much time at daycare. (Granted, at this age, time in a carseat is probably not quality time together.) As it is, I feel like I'm getting to work late and leaving early, and DS STILL spends a super long day at DC.
I normally suggest people find something closest to work, for the reasons the pp mentioned. However, location isn't everything, especially when your choices are limited. DS went to a daycare right inbetween my work and home for 2.5 years and it was perfect. But when we decided to switch centers b/c I was becoming more and more unhappy with them, I ended up choosing a place further out in the county, the opposite direction from my work.
It almost doubled my commute (which still isn't too bad), but in the end it's worth it. It sucks when he has a dr's appt or something, but something I just have to deal with to have him in a better place. So I would start with looking for something closer to your work, but it wouldn't be a priority on my list.
I picked work (mine). My son started daycare at 3 months old, and I went to his daycare center during my lunch hour to nurse for the first 6 months (at 9 months he started having sep anxiety so I stopped). Going at lunchtime was great at developing relationships with my son's teachers, and I got a ton of helpful parenting tips from them too. Plus if he suddenly ran a fever, which will happen unfortunately, I was at the daycare center in less than 5 min.
Sucky part - my husband's job was too far away to do drop-off or pick-up. Once in a while he'd do it but we really had to plan ahead.