I would be inclined to think bare wire would be best for simple cable constuction but would probably present a problem with the more exotic internal configurations.
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Bare wire might be the best mechanical connection, but the wire oxidizes over time as it is exposed to the elements. When the wire degrades, so does your sound. Therefore, you need a connector that provides the best mechanical connection, but at the same time protects the wire from degradation. Usually properly soldered locking bananas or spades, either one. Or so I'm told. I find there is usually less BS involved with spades, myself.
I have a pair of PSC Audio Custom MKII's and the company has a rather unique approach to the terminated spades. First the spades are cut from a pure silver sheet then coated in 10 alternate coats of silver and gold with the gold being on the outside. I don't know it this is the best way, or if it's better than bare wire, but it seems like this fanatical approach works in my system. Maybe it could be reproduced from a local jeweler on your own speaker cable/spades.
Spades generally give you the most contact surface area and therefore are considered the best. I wouldn't recommend bare wire due to wire degredation and the potential for poor connections. Silver plated will give the best connection (if properly cleaned), followed by gold. Copper can give equal connections, but oxidizes, so it is rarely used. Kimber and Sonic Frontiers Parts Supply can provide you with good quality connectors.