TPM is fine, but you need to set a PIN to unlock the TPM. If you have a TPM without a PIN, somebody can just swipe the whole machine. PIN guesses are rate-limited by the hardware itself, so the PIN can generally be faster and easier to enter than a complex passphrase without compromising security.
IMO: TPM+reasonably random PIN offers comparable security to a strong password without a TPM, and better security than a weak password without a TPM. I prefer TPM+PIN since it's easier to enter 5-6 digits at boot versus a big complicated passphrase, but it's personal preference. TPM without a PIN is pretty useless though.