Not too sure havent thought about it too much yet. If I think about momentarily I would lean towards the bassinet since it takes up less space and not so bulky!! maybe but then again I havent researched any of it, just an immediate though...
Bassinet. It is much more compact and doesn't need to be assembled. I only used the PNP when he was older, crawling and I need to cook food w/o him getting into trouble or for overnight trips.
I have found the PNPs to be more useful in the long run. Right now we use ours as time out. That being said I have the Graco one that comes with a bassinet attachment and it barely, and I mean barely, squeezes through our door frames when set up.
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Re: Pack-n-play or bassinet
PNP. you'll get much more use out of a PNP then you will a bassinet!