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Depends on what you are chasing, I prefer building to a full moon for tailor and a new moon for Jew. For some species I don't think it makes a whole lot of difference. I will probably get shot down and say that whiting and bream and flathead are not overly affected by moon cycles however they are affected by breeding cycles that coincide with a moon event in mid winter.
I find it has more to do with wheather the moon is in the sky at the time, or not( 1st quarter-3rd quarter for daytime fishing).
Generally if you can see the moon, the fishing is good. On heaps of days we were getting good fish, but once the moon disappears, the fish really thin out.
Some target species we wont even try for unless we have a moon.
Dave,
There is an old saying that if the moon is "tipping" the fishing is great. Seems to work for me fairly consistantly but then I enjoy just being on the water.....a fish or three is a bonus.