Ok so we've been through four main possibilities. I hope that I got across to you what the pros and cons, the upsides and downsides are for each example. Remember they're all categorized loosely here, you can modify and gel one into the other to make hybrids. What I hoped to have demonstrated though is a picture of what effects what and why, when choosing how to maintain your list. Hopefully also this will be super easy for you. Which one is the best to choose? The one that is best for you and your business, not just now, but in the future. Once you've gone down a path for a list, it's not easy to change. Make the right decision now based on what you have in front of you, and you can sleep easy in the knowledge that your choice will benefit you not just from the day you start building your list, but one, two, five, even ten years or more into the future.
It's your choice. There is no wrong answer. Pick the one that's right for you and your business.