I like to have both but I think story could be more important in some genre's.
For example, in an FPS game, I couldn't care less about the story, just let me blow things up and make it look cool but I'd be in pain trying to finish a JRPG with a bad story.
Also, sometimes when the gameplay gets stale, only the story can keep the player engaged
"Dr. Tenma, according to you, lives are equal. That's why I live today. But you must have realised it by now...the only thing people are equal in is death"---Johann Liebert (MONSTER)
"WAR is a racket. It always has been.
It is possibly the oldest, easily the most profitable, surely the most vicious. It is the only one international in scope. It is the only one in which the profits are reckoned in dollars and the losses in lives"---Maj. Gen. Smedley Butler
