PPC gets my vote as its quick and effective once you know your market.
Then its a case of basic maths - take into account the costs, conversion rate, revenue, and sales targets - and you know when to continue or cut your losses.
IMHO seo is a long term play as its tricky to get listed for competative terms quickly. SE's also like to change the way they rank pages - not that I'm bitter about it.
That said you can use seo as another channel for those niche ppc keywords that have low natural search matches on google. If you can bang out a page out for a mis-spelt ppc word that gets a few sales a month, you just lowered your ppc costs and increased profit.
With more profit, you re-invest in more expensive keywords, and get bigger profits. So the cycle continues.
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I've gone down the SEO route, just seemed like a better choice for me as i also work full time, i just work on sites when i can find the time, and learning web design as i go!!

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