there is only one ending: he was dreaming
the totem is spinning. that's the only proof you need. first because it doesn't stop spinning. people say it almost stops before it cuts to black. but what's important in a movie is what's shown. the totem is never shown stopping, so it doesn't stop. that means that people who thinks cobb is not dreaming at the end are basing their theory on something they DON'T see.
and most important of all, if it wasn't a dream, the movie simply wouldn't end showing the totem spinning. that's the whole point of showing the totem spinning: to know it's a dream. if the movie ends with the top spinning, you don't need any other proof. why the hell would the director cut to the totem spinning (and end the freaking movie with this image) if it wasn't an important part of the story? you really think nolan ended the movie with this image just to fool or confuse some people? that's not how movies work. what's in the screen is only what's important for the plot. confusing viewers is not important for the plot, and nolan is good enough to know that. end of story.