Nowadays we can say that a game is made up of three main parts. These consist of the story which includes the characters found in the game and the plot of the game itself, the gameplay which includes how one controls the characters in the game and the graphics which include well how the game looks on screen. So what I want to know from you guys is which part is more important to you in a game and wheter or not you can live without one of these three parts in a video game ( Such as a game with absoloutly no story or horrible graphics yet amazing gameplay ).

I value story as equal as gameplay.

Graphics are my least concern in a game.

I've always endured games with awesome story but bad gameplay, or games with awesome gameplay but bad story. I'll never be able to enjoy games that fail at both, no matter how beautifully crafted they are. (and before anyone points at an specific game, I'm thinking of El Shaddai: Ascension of the Metatron.)

I want a perfect balance of all 3.

Which means:

If the graphics are incredible, the story and the gameplay should be as equally great.

If the story is great, the gameplay and graphics should be equally great and so on.

Does this happen a lot? no. 

Games are all about Gameplay BUT when talking about VIDEO games, it is the culmination of gameplay, graphics, story, sound design and setting. All of these are almost all equally important to me. But if I can't get into the story of a game I just have a sense of 'why am I doing this?'

Which is why Naughty Dog games, Halo games and Nintendo games are held in such high regard as they have a fantastic blend between all of those 5 elements. So whilst I think they are almost equally important, story is the biggest one for me. Unless I'm playing for mindless multiplayer then it's about gameplay mechanics and balance.

Story = Gameplay > Graphics

What good is gameplay if you dont enjoy the story, and what good is the story if you don't enjoy playing it. Growing up with Nintendo 8bit graphics, I can play games that aren't visually stunning.

Gameplay =story > graphics

Gameplay > Story > Graphics

I can tolerate bad graphics and story if the gameplay is superb.

Gameplay and graphics above story. I like to play games, what ever they are, and a story is just a bonus, if i like it i pay attention to it, if it doesn't get me, i still play the game and don't give much attention to the cut scenes and dialogues. That is way some rpgs are unplayable for me, all that talk turns me off.

Edit:

Btw, if graphics and gameplay are good enought,  i can make my own story in my head about me in that game, but you can't imagine graphical details that aren't there and if gameplay is bad, it would not feel like its you doing those things. Example, i loved KZ2, because i felt heavy and that smoke and dust really made me feel like i was there.

Gameplay > Story > Graphics.
I want to enjoy playing the game and if it has a nice story then that works well, I've never been one for graphics though.

Gameplay > Graphic = Story