i have done both, used to settle, process, wash and dry in one tank and then transfer to storage when finished. I now have 3 tanks, an oil drying tank (any crap that makes it in stays in here and not in the processor), a processor and a wash/dry tank. right now I have a 4th outside with the M67 in it!
it suits me having multiple tank, I can load the processor up and run a batch whilst I drop more oil in to the settle tank. I can dump the bio in the wash tank and not worry about how long it takes as, etc. both work, it depends on how you process I guess.
for instance last Friday I had 1000l turn up and over 600l of it is gone from the IBC already. I've had a bit of time on my hands so have been able to plough through the oil (whites). after this week i'll have 400l of finished fuel, 190l in my wash tank, 190l in the processor (dried), 190l in the settle tank (dried) and still have the M67 tank to start loading with whites/slops I accumulate along the way. when my storage tank starts to get low I can move things along in a steady manner, but all the hard work of turning white slops in to dry usable oil will be done.