I think the answer depends a bit on how large the million rows insert activity compares to the number of rows in the table already. If it's a relatively small percentage, and you have adequate freespace, the nthe inserts should perform acceptably. Be careful to commit on a regular basis, though.
It might also depend on whether the rows would normally be spread throughout the table or added at the end. A load utility would add the rows at the end, possibly compromising clustering. If you do decide to use a load utility, you should also backup the table as soon as possible.
If you concern leans toward concurrency, I would opt for inserting the rows with an appropriate commit frequency. After all, a million rows is not really a large number any more.
Good luck.
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