Design pattern for read-only vs. read-write collections

Interesting discussion over in WinFX land today, thought you might want to chime in:

What is better from the standpoint of the design guidelines:
1) Single class FooCollection with an IsReadOnly property and an AsReadOnly method returning a FooCollection
or
2) Two classes: FooCollection and ReadOnlyFooCollection

One suggestions, which I think is a pretty good one:

It depends. I would do #2 in commonly used API as it’s cleaner in terms of the Object Model. I would do #1 in to save one type is less commonly used API.

Of course with generics this gets a little easier...

What do you think?