My gut feeling is that recurring should give more on average, as by giving a fixed amount, the sponsor is taking a risk that the customer stays - and he should need some premium to compensate him for that risk.
Anyway I attempted to work out the answer to this based on my own very limited traffic, sign ups, and recurring income for January.
I used a variety of sponsors - some per sign up, and some recurring. Out of my top 10 (ranked in $ earned by me per unique hit sent to them), there were 4 per sign up, 4 recurring and 2 email site sponsors.
So my conclusion (based on in insufficient sample size but it's the best I have) is that it doesn't matter.
Check my sig for more info.
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