A lot of people have said it is unacceptable to phone home. However, I haven't seen too many explanations as to *why*. First, if it requires an internet connection to register, and you don't have a connection at the time, the software will fail to register and then you have the problem of software that will not function. Also, will it validate itself over and over or just the first time. And, what happens when the user inadvertently blocks communication through a software firewall? In that scenario, your software will be blamed for the problem even though the firewall is what prevents the communication.
Don't do nag screens. A lot of people despise nag screens and will not use software that implements them.
There's a lot of truth in the argument about pirating. There *will* be a lot of theft of your stuff, especially if the trial and "full-up" versions are the same. Think carefully before going this route. That said, if you do, consider using email registration, which ties a code to an address (but make sure you avoid anonymous addresses such as Yahoo, gmail and mailinator).
You *could* go with two distinct versions, but that also becomes a maintenance headache. Not an attractive choice, but it will give you the most control and will allow you to "fingerprint" every registered copy that goes out the door, especially if you have a unique identifier that can be traced to a specific user.
Good luck.