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reposting the link from another topic:
But the point is:
In the top 10 money making games (and most listed here on MMORPG.com), all but ONE is sub-only (WOW).
And wow is only #7, and making less than half compared to LoL.
This pretty much shows that to make money, F2P beats P2P, and often you don't even need a virtual world.