Sirquack, you look different... OK, so maybe it is just your new female avatar..
Anyway, bare wire is supposed to be the best connection. Fewer points for a bad connection to be made. Downfall is the possibility for corrosion.
I got some nice solder and soldered the ends of mine. Make sure that you don't just get plumbing solder, it is different than electrical solder. Some have used silver solder for even better connections.
Banana plugs do "look" nice and finished, but if you are going to hook things up and leave them hooked up, I would skip them.
Others here DO use banana connections because they move things around, unplugging and replugging their speakers and components. Those crazy people (just kidding everyone) have a very good reason for the banana plugs since it makes the plugging in and out quick and easy.
