Everyone will say the same thing: Depends on your traffic, etc. etc. etc. but from my experience the best converting sites typically offer free preview chat - without needing to register (whether or not that's the smartest thing to do!), have reasonable rates and offer some very good talent.
Sites like Flirt4free, again only in my experience, don't convert as high but tend to produce more "big fish" and the "customer lifetime value" is very high. They are fairly expensive and the chat rooms very busy.
Sites like Spread4U make each conversion count, so the payout is great.
PPS programs like Streamate, VIPStream, etc. offer $20-$25 but do convert fairly high.
For me, balancing some revshare and PPS programs is a good balance and helps me predict future earnings. Lars offers both programs and even at $50 PPS I'd still suggest going revshare (20% and up). Imlive converts vary well and is offering $50 right now - plus a chance at a Porsche! Of course, iFriends ($40+) is still a winner.
Good revshare programs include AWE (LiveJasmin), One2One, PrivateFeeds and CamZ. PrivateFeeds btw just added a broadband option and the video quality is awesome - almost like watching TV.
For all the details, payouts, etc. check the link in my sig.
