Local numbers.
Having a local number might have been important 10 or even 4 years ago but in today’s world of exploding telephone number usage new area codes are issued almost weekly. This means if you live in a major metropolitan area you’re likely to have 2 to 3 area codes within 30 miles of your home or office.  In New Jersey I have 4 (that I know of) within 20 miles of my office! This makes having a “local fax” number much less important.
Add unlimited long distance most consumers and businesses have an the value of a local number goes down even further.  You could have a number in Chicago and who would know, or care.

Toll Free numbers
The value of a toll free these days is they still hold the “idea” of a “free call”. It might not be necessary for the sender that the call to your fax machine is free but they might perceive it as valuable. Also, toll free numbers also make you look like a bigger company to some folks.

Pros and Cons of Local vs toll free numbers.

Local
Pros- Perceived as a local business, usually no extra charge from the Internet fax provider, can accept international faxes
Cons- Not always easy to get a local number from the provider you choose.

Toll Free
Pros – You look like a big company, no change for people who still pay for long distance.
Cons – Some fax companies still charge extra for toll free numbers, International parties cannot fax to an US toll free number. (Canada is the excpetion)

RapidFAX and MyFAX offer Free Toll Free numbers and a great selection of Local numbers.