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Do both. Why limit yourself to one or the other?
Both are easy to setup.
Can't say if one will convert better than the other. That depends on a lot of things, none of which is soley based on if your site is a TGP or a Blog.
Design and traffic are the only things you would need to invest in. Both will impact your success much more than if your site is simply a TGP or a blog.
Both are easy to manage. I wouldn't say one takes less time than the other. It all depends on what your expectations and goals are for the site.
Make as many as you can of each.
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