Which is the better way to stop an Update?

This:

void Update() {
   if(!isThisEnabled) {
      return;
   }
   // Do stuff
}

or this:

void Update() {
    if(isThisEnabled) {
        // Do stuff
    }
}

Is there any difference at all?

Comes down to taste and how you read code.

Some coding guidelines say to minimize indentation, so the first one would be better.

Other coding guidelines try to avoid “early out” returns because they can potentially silently bypass future “also do this one final step” code you might add at the end of a method.

One thing that is potentially problematic is long Update() methods that do tons of disparate things:

For one, if your method (any method) gets too long, it might be better to break it into clearly-separate method calls (such as GatherInput();, FilterInput();, ProcessInput();, and UpdateCamera(); for example), but that often requires more class state, which has its own issues.

For two, perhaps it should be two scripts rather than one, if the functions are too divergent and violate “single concern.” But breaking stuff into many scripts also comes with a penalty of making it harder to debug and understand, especially once you forget what you were doing (and you will) or if someone else needs to fix your code.

And finally, some final thoughts about keeping your code simple an step-by-step:

If you have more than one or two dots (.) in a single statement, you’re just being mean to yourself.

Putting lots of code on one line DOES NOT make it any faster. That’s not how compiled code works.

The longer your lines of code are, the harder they will be for you to understand them.

How to break down hairy lines of code:

http://plbm.com/?p=248

Break it up, practice social distancing in your code, one thing per line please.

“Programming is hard enough without making it harder for ourselves.” - angrypenguin on Unity3D forums

“Combining a bunch of stuff into one line always feels satisfying, but it’s always a PITA to debug.” - StarManta on the Unity3D forums

If you flip the .enabled property of a monobehaviour to false, Update doesn’t get called.