I would like to know the factors that govern the decision of whether to choose publishing or collaboration (teamsite) template for new site collection?
Your answer can be in form of points for each of above template.
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Publishing site is more oriented in pages, which means it has a more articulated way of publishing pages, the most common template being the 'article page'. Every page will obey to the mechanism of save-checkin-publish, it can be boring for a normal user to have to do all those actions to see his article appear. (example: an intranet with a roll up of news written in pages)
If you do not need this automatism or you do not like the article page template or your target is not an intranet like site, skip the Publishing site.
The team site is more versatile, you can have pages (and add and write text in pages) and document libraries and the pages are more 'natural' and if you do not activate it as a separate action they do not have this automatism of save-checkin-publish.
You can still have a team site site collection template and have underneath a publishing site as a subsite (or vice versa) or you can simply have 2 separate site collections with different uses.
Publishing site = more oriented to information on a PAGE (as you would see in an intranet)
Team site = more oriented to information on files (document libraries) or lists (as you would see in a collaborative platform)