For comparison, Dokuganryu + Fire Club oneshots blues and 7 shots (6 with 1 oni bean) reds.
Personal prefrence, I'd go with the lance, just because, while the club's attacks are stronger, the lance's come out faster. And thats without factoring in the point bonus.
A very (very) basic LBP level... by me. http://lbp.me/v/pj9eqq
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With the combination of the Dokuganryu, I prefer the rod.
With the rod, I can clear a round in about 3 to 4 min, rarely need to use recovering.
With the War Lance, using a similar tactic (but with more moving around) needs 4.5 to 6 min, usually need to use recovery and more prone to dying.
Not experienced with the lance and not having the devil armor might be the difference, and perhaps I need to figure out another tactic to utilize it to clear in less minutes.