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We've tested long, medium and short.
For "products", medium lenghth copy (around 600 characters) or so works best (for us). It's very important to include bullet points or specs as well. Some people will skip the copy and look for the technical aspects or features.
(We sell items that range from $2.00 - $10,000. The average item is about $65)
For "programs", (something you want people to sign up for), the long (ultra-long) copy works best for us. We offer a newsletter customization program. We have over three pages of text explaining the program. Of the people that look at this area of the site, 47% click all the way through to the last page. And of those people, 14% actually sign up and pay for the program. I think that's pretty good. It's a $600 - $1,000 enrollment fee. Overall, we have an 8% conversion rate for this program.
One thing to remember; when you're using long copy be sure to ask for the order many times. Explicitly ask them to buy the product in places throughout the article.
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