In the original game, it should have been "Aerith" from the very start. The default name showing up as "Aeris" in the North American localization is the direct result of a translation error, which is common in such localizations of various games in the series. In the Japanese version, it was, in fact, Aerith. Had there not been a translation error with her name, this would not be an issue of debate.
As for my opinion, I prefer Aerith, but only in part for the reason stated in the last few sentences.
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