Trash, I already ousted this place some time ago when I made a thread about 'Would you buy a game that looked like this, and how much would you pay?'.
In this thread, I outlined a game that looked similar to Ultima V, though having incredible depth and all the trappings that a pure Codexian should love. The majority of responses I had basically said:
A) Many might pay 'budget' prices for the game, in spite of the fact that we are a niche market, which says they are prepared to pay more for graphics, and give no real incentive for a developer to focus on depth of play.
B) Quite a number wouldn't be able to handle such graphics, in spite of the depth of gameplay.
So the answer is, without any doubt, graphics are more important than gameplay around here. This proves to me why Wargamers can have three+ publishing houses putting out various developer works each year (Matrix, Battlefront and the other one with countless variants of the same hex based wargame..it escapes me at the moment), and CRPG players have none. A few random indy developers, with the main one attempting to go mainstream (Vogel) and the others taking years to get their games on the market almost entirely due to the graphical issue (see Age of Decadence). Many of the wargames look like they could play on a 286 PC, but the developers seem to be able to keep pumping them out, so they must make some amount of profit.