Whatever combination that gets me immersed into a game. "How" doesn't really matter to me. I played games with little to no story or games with crappy gameplay or bad graphics and I became immersed into the game anyway.

Graphics does almost nothing for me except for a nice "aha-effect" and to take nice screenshots. Art-Style can be important but graphics from a "technical standpoint" is only a nice bonus but nothing more except for realistic racing games where I want good looking cars.

Bloodborne and The Order are good examples for my taste, if Bloodborne would look as good as The Order it would be probably a much worse game for my taste (right now, that doesn't mean that we can' get a game from them which plays like Bloodborne and looks like The Order in the future) and if The Order would look a little bit less impressive the game itself would be probably much better for my taste since I believe the gameplay would be different then. Same with Ryse, if it would look only half as good I guess the gameplay would have more to offer.

I'm not against stuff like the Telltale games which I really like but they are different to something like The Order even if people like to say that these games would have to get even lower scores with the logic editors used to review The Order. If you play these games you should realize the different approaches.

Good story is always nice and in some games essential, in other games it would be good to have a better story but it's still fun without because of the good gameplay.

What I can say is that I never liked a game only because of graphics in 25 years I play games, I never had fun with a good looking game where I didn't like the gameplay or story but there are a ton of games where i liked only the gameplay and there are games which I like and which had only a nice story but not perfect gameplay or graphics (To the Moon as example)

Depends on genre, but in general I would say gameplay is more important for gaming. Story is more important for reading, for watching dramas etc. Visuals are more important for AAA blockbusters, and very important for FPS games based on real world etc.
Talking about Bioshock, Alan Wake, The Last of Us, The Walking Dead etc, I'm for the story.
Talking about Super Mario Bros, Fallout New Vegas, Total Annihilation, Mortal Kombat etc, I'm for the gameplay.
Realistic graphics is awesome. Infamous Second Son, Forza Motorsport, Battlefield, NBA 2k etc looks fantastic, but anyway personally I prefer addictive gameplay and touching stories first.
The game with story only. The Walking Dead. I like it.
The game with pure gameplay. XCOM Enemy Unknown. I like it too.
The game with stunning visuals. RYSE Son of Rome. No, thanks.

After yesterday's session with The Order, I'm solidly in the corner of gameplay. Story is great as is the production values but damn.

All three, and there's no reason why developers shouldn't aim for all three, either.

Gameplay >> Graphics = Story

Story is most important to me with gameplay as a close second. Graphics dont matter as much as I prefer 8bit/32bit/64bit graphics the most.

gameplay > graphics > story

No offense to the people who value storytelling but what video games have quality stories? Beyond some fascinating settings the vast majority of video games have terrible plots and downright one dimensional "characters".

gameplay > anything

Why would you play a game if it isn't fun?