I have been using BIAB for a long time, and all of my music has lyrics. I now only use note based lyrics as they are the most predictable as they stay connected to the note, not the bar or line. Originally, BIAB had only line based lyrics. They worked, but it was a real chore to make the line up with notes, and if you added a bar, everything got out of wack.. Then PGMusic came up with note based lyrics. This solved most of the problems with alignment, but it does have some quirks, such as deleting a note does not delete the lyric. That's because the lyrics are really "event" based. What you are actually doing is putting two events, the note and the lyric at the same point on the time line. You can edit them independently with the event editor. The up-side is that you can tweak the position to get them to better line up, especially at the end of a bar.

It also means if you add or delete notes or bars, the time line is automatically updated and the remaining notes and events (lyrics) keep their place. You can't copy and paste them as you can with line based or bar based lyrics, but they are easily managed. Copy and pasting bars has the option to copy any associated lyrics.

Bar based lyrics, to me, looks like a version of the line based function that limits the exposure of modification to one bar rather than a whole line, but it still has the problem of getting the lyrics to align with the note.

BIAB for Windows Version 2019 (643)
Windows 10 (1909)