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It depends how you promote them. If you lead the surfer to expect more than they get, you are wasting your time on recurring, but if you are more honest, recurring beats PPS.
Note that this also applies to the site's tour. If it appears to offer too much the surfer will not stay, in which case either choose a different sponsor or go PPS (eg "over a million photos, 100,000 videos" usually means that about 10% will be on the genre the site advertises, the other 90% are from access to the company's other sites, and how many people who signed up for "skinny teens" will be happy with "BBW MILF" material? Also the surfer will see "over 100,000 videos" as meaning 100,000 full length features, when they find that they are mostly only a few minutes long, they leave).
So basically what I do is pick my sponsors carefully, write my ads carefully, and go for recurring. Except in the case of sites that offer a good payout for "Free" memberships, those I go PPS since they are easy to sell, but I know most surfers will fuck off as soon as they realise that there is no such thing as a free lunch!
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