You can't have both. Pick one. Either one is valuable, if you are set up to handle the one you select.
Here's more from Seth's Blog:
Who vs. how many
Scoble has a great post about a 14 year old kid with 45 million viewers on YouTube.
45 million! He wins. You lose. You won't have more traffic than he will. Ever.
And what about your ads? Are you busy sponsoring sites that have less traffic than he does? Sure you are. Why? I thought it was all about reaching the masses...
Well, since you're over that now, since you realize that "how many" is not nearly as valuable as "who", why not put that into practice?
Just because something is easy to measure doesn't mean it's important.
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