It seems that crowns can not only unlock areas but allow you equip upgrades, where the subscription only unlocks the areas for the duration of the sub and offers no equip benefits.
I think Crowns is a better option. With Crowns, the every area in Wizard101 can be unlocked forever for only $80 worth of crowns, whereas with Subscription, you unlock all areas for $60 a year during the discount, or $120 without the discount. The only thing is with crowns, I can see PvP becoming really expensive. You'll also have to take into account the future, There will be new worlds released eventually, and those new areas are going to cost you some $$$ too. But, if you plan to stick to the game for a long time, meaning a 3+ years, you might want to just spend the crowns to unlock the areas.
A lot depends on how often you will play then how deep your pockets are. The best equipment is not always the crowns gear, in my opinion. There are many good items dropped from monsters, or purchase with IN GAME GOLD at the various vendors. I have 2 accounts, mine is a subscription and my wife's / kids is crowns. I offer my observations:
Subscription: Ranked Player versus Player is available, all areas are open when your wizard is able to reach those areas, as long as the subscription is not expired. Still need to buy crowns for certain gear, mounts, elixirs, henchmen, etc.
Crowns: Buy crowns to unlock areas forever on that account. I did the math awhile ago and it comes to about $120.00 to unlock every area in the spiral from Wizard City to Dragonspire ( I think Grizzleheim is included in that math, it was a bit ago, so not 100%, about 92% sure it is). If you want mounts or special gear, elixirs, costumes, henchmen, it is going to cost you more.
Recap: After unlocking all areas with crowns (for $120) it's a free game (sort of) for all wizards on that account. Which is why I think the monthly subscribers should get a bonus after a certain amount of time, because they usually will still buy crowns for other stuff.
Well i have a sub and its good but for some odd reason KI are giving more credit crown users even though the subscription people are the real people who pay KI
You need 59670 crowns to unlock every current area in the Spiral. In one single purchase of $80.00 will give you 60000 crowns, enough to unlock this game entirely. Though, you will have to be WELL DISCIPLINED not to spend your crowns on ANYTHING else.