Well, if you can tolerate the growing out period for a top knot they a fun and attractive thing to have. It does take a lot of diligence to keep it looking nice. If you want a top knot I would suggest using the non-latex grooming bands. I use the small ones because you don't have to twist them around so many times. You have to do it every day even when they are young. I would start doing it now even though his hair isn't long enough for a true top knot. They have to know it is an everyday thing that is going to happen just like grooming the rest of the body.
If you don't have the time or inclination to do the top knot thing then I think trimming is the logical thing to do. It keeps the hair out of their lovely eyes.
Clips slide out of the hair if you don't put a grooming band in first. They just don't stay and it is dangerous to use a clip or bow if your not right there with your pet. There are some good instructions on top knot placement available at :
Placing Bows - Photos : Dog Bows, Quality Dog Bows - Yorkie, Maltese, Shih Tzu - by BowBiz
There is also a video and other info available.
Never leave a grooming band in over night. It will become all tangled and break the hair.