I'll chime in with my two bits too.
On a personal note, here's what worked for us.
I tried AJ on one nap when I thought he was showing me was ready, but it wasn't good. He was taking a long time to settle (overtired), and he was only sleeping 40 min to 60 min instead of about two hours.
So I went back to two naps. It was a little hard because his A times were constantly getting longer and it was pushing his afternoon nap later and later, so much so, that it was interferring with bedtime.
My only option was to keep the morning shorter, like 30 min. (It varied based on his wake time, but...
It looked something like this...
7:30am wake
10:45 - 11:15 nap
2:30 - 3:30 or 4:00 (whenever he woke)
bedtime 8:00pm
A couple weeks later, he was refusing to go down for the afternoon nap as his awake time just kept getting longer and longer and longer and uggg, longer. That's when I thought to try the 1 nap again.
It worked.
Now, I find that regardless of his wake time, he's ready for a nap at 12:30pm every day, and naps until 2:30 or so. I'll wake him if it's 3:00pm, because if he gets more sleep than that, it interrupts his night sleep.
I always think of him as so easy going, but then again, he's kind of particular about his sleep.
Good luck with whichever method you choose.
Do what works best for your LO.
I did.
Sonja C