Here is a quote from Godfather 3...it was made by Al Pacino (playing Michael Corleone). This quote shows that a man who was feared by all...would have rather been loved. "Goodbye my old friend. You could have lived a little longer, I could be closer to my dream. You were so loved, Don Tommasino. Why was I so feared, and you so loved? What was it? I was no less honorable. I wanted to do good. What betrayed me? My mind? My heart? Why do I condemn myself so? I swear, on the lives of my children: Give me a chance to redeem myself, and I will sin, no more."

I think loved in the long run. You might have more power with fear, but you might get killed!

It's not really a Machavellian question.

He details the difference and which is preferable.

Of which he asserts fear... to a point.

When people think feared they think someone like Hitler or Stalin... they are feared sure... however they are also hated. Which was the number 1 thing machavelli suggested one avoid.

It is a completly different thing to be feared but not hated. Like most monarchs were.

The "He's pretty cool but if you mess with him he'll fuck you up" guy.

If you think about it... guys like that usually had few enemies,  a few sure but not many... and that guy got to a lot of parties and other stuff... and well nobody fucked with him.  Because he was a cool guy.  He just had a temper.

As they say... in all things moderation.  Afterall.... if a ruler is too loved it's likely because he's extending programs to his people that likely outstrip it's means or is doing something else at the expense of the country, since a good ruler often needs to make unpopular descisions.

There's no good or wrong answer to that question and that's the problem.