My twopenny worth:
1. Choosing fixed width gives you (the designer) control over the 'look and feel' of the page (site).
2. Choosing fluid means that content will expand so that even on different resolutions the page will fill (or almost fill (if using width="80%" for instance) the browser window.
Choosing number two can make the site look ok in most resolutions but can cause 'look and feel' problems so you have to make the site more 'generic' to compensate.
I try and work with both types if I can. For instance using nested tables where the parent is a set width and the child tables flow.
I mumble on - thats all I have to say for now apart from that it also depends on who the potential visitor of the site is. If they are likely to be an older generation visitor who perhaps likes to see large fonts etc then your answer is there. If they are likely to be young and hip ;-) then perhaps some flash design and more flowing code.
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