Deb's Group FULL (Page 6)

I don't know that they really are two different schools.  yes, you should save your legs for the bike and run, but that does not mean do not use your legs at all, rather, it means to use your legs to keep your body in a good gliding position, but do not use your legs for powering through the swim.  the easiest way to think of it is look what you do if you do the breaststroke -- the stroke itself requires a strong kick through with your legs.  this is what they mean by save your legs -- do the breast stroke and focus on pulling yourself through the water with your arms, not pushing from behind with your legs.