Clothed. The clothing can be skimpy, and there can be wardrobe malfunctions, but at least SOME clothes are a must, and generally speaking, the more clothes the merrier. There are two reasons for this:
First, I love cosplay and narratives involving heroines whose stories are familiar to me; this helps "set the scene", so to speak. I's a lot easier to get emotionally invested in the plight of a girl whose personality and motivations are already known, then with some faceless nobody (this even applies to zakos, in the sense that a zako with a clearly defined job or role is preferable to a zako with no role aside from being meat). Costumes help anchor a character, and make ryona that much more immersive.
Second, honestly? I'm not that fond of nudity in ANY porn. Don't get me wrong, nudity is fine, but I'm usually much more interested when the girl is covering up a bit, leaving a little (or a lot) to the imagination. For example, this may sound strange, but a lot of times, if I've downloaded a porn video, the part which really grabs my interest is the foreplay stuff, the first minute or two. As soon as the clothes come off, I get bored! This is one of the reasons why I like annoyingly tease-y softcore models who never do hardcore, as well as JAVs, JOI camgirls, and even pseudo-sex (like faux hardcore and fully-clothed dry humping -NextDoorNikki's dildo blowjob videos being a good example). I love the look and the build of American porn actresses, but porn filmed in America - just full on sex - is ironically kinda boring.