Depends also on the type of site, if it's a niche or a site with personality, with not that much competition then I'd go with no trial option, since if the niche finds its fans they're more likely to get converted no matter if there's a trial offered or not.
If it's more generic than, as recommended above I'd prefer to test and see the results, I reckon that to convert a trial member to a full member you need to have a LOT to offer these days - be it top content, wealth of it, frequent updates, engaging member area, bonus offerings etc.. so you really need to test to see if the paysite converts trials or not. Worth to check out the member area as well.
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