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If you're buying traffic or in another situation where your business model requires a quick return on investment go PPS.
If you are generating traffic yourself, running ads through your own sites, mailing your own lists, or aren't in a money crunch- if you can be patient generally speaking RevShare will do better for you in the long haul.
I have found, with the end of the business I work in, webmasters who choose revshare make more money.
Probably the most important tip I can offer if you are thinking about going with RevShare is do a little homework. Use some GoogleFu and even a little GFYFu and check on what sponsors are known to fuck with your recurring comissions. Will they threaten to cut your rebills if you try out a competing program, will they threaten to cut your rebills if your traffic dies down, what if your traffic stops completely?
Hope that helps.
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