That's a really good question and I do not have a for sure answer. My kiddos are 2 & 1/2, and 4& 1/2. The eldest boy stays up late if he has a nap and if he does not goes to bed too early. However I started cutting down on the durration of his nap.
The younger child, is on medication so we have to do a nap. Which makes getting through the whole night hard at times vs no nap and he goes to sleep earlier than later. ( in which case so do I)
I guess only thing I can really say is look at what you have planned that day and the next. Maybe be a litle more flexable it does not have to be either or, sometimes child might need one ( cries,crankie ect) or you might have had a rough day,in which case maybe let kiddo stay up and go to sleep early. ( this works nice if you have to get up early the next day too)
Trial and error...I used to think it was either or but seems every other day my eldest naps now and when he does not we play Playdoug or do an art prodject while younger sleeps.
Good Luck