mechconst: With respect to determining the correct flow direction, more information is required.
Is this valve in an isolation or control/throttling application? For isolation, I agree with JimCasey, flow under the seat will isolate the packing from system pressure, however this is only true for an unbalanced plug (which you would likely be using if it was an isolation application)
Is it a balanced or unbalanced plug?
What type of actuator is installed on this valve (pneumatic spring-diaphragm, pneumatic piston, electric, manual gear operator, top mounted handwheel)? For a top-mounted handwheel or gear operator, the bathtub stopper effect is not an issue.
tsenthill/I2I: With respect to the flashing/cavitation discussion, quote "With anti-cavitation trims, the vapor bubbles are maintained in the inner cavity so their collapse is located away from the trim solid parts susceptible to cavitation damage"
Is the purpose of anti-cavitation trim not to limit the pressure drop through the cage to small stages such that vapour bubbles never form at all, and thus, never collapse?