I've used both, and while the wedge is better than nothing (I travel with it even now), but the elevated bed is far superior. The problem with he wedge is that when you slide down (which you inevitably do during the night), then you'll be bent at the middle. The bed elevation will still tend to make you slide a bit, but it's always flat...with no bend in the middle.
I still sleep with my bed elevated although I had the Nissen surgery, because my PCP and asthma docs are very concerned that acid may still escape and bother my lungs, which are very fragile. They were in terrible shape pre-surgery and are doing great now (meds have been cut down tremendiously), so my docs are anxious to keep them that way. I've got no evidence of reflux, but I'm still on 40mg Protonix before dinner daily. I recently checked with my PCP, and he still stands by the recommendation. While I'm not sure it's necessary, I'm deferring to my asthma and PCP docs. Don't want to go back there...
That was off the subject, wasn't it?
Does your bed have wooden slats attaching the head to the foot? We have a metal bed frame (It's up on bed risers with additional 2X6 boards to add 4 inches and stability--8 inch total.) and at this point don't have a headboard. When we get it, we will attach it to the wall, rather than the bed frame.