To make an honest view of what I think:
Dragon Quest is more popular with general public. People of all age groups and walks of life like Dragon Quest. As well, the sales for the games continue to rise, even in this generation, when many long standing series (especially RPGs) are being passed up for by new IPs.
Monster Hunter seems to be more popular with the 14-26 year old crowd. Those 'in the know' and who play a LOT of games. And if western sales of the series are anything to go by, it seems like even more of Japanese fad than Dragon Quest. Which is ironic as both are very western influenced series.
In the end, I think Dragon Quest is the more solid and popular series. But Monster Hunter can't be overlooked for its amazing surge in popularity.
In the end, Pokemon kind of does what both series does combined, which is why you'll never see either series upstage Pokemon.
Six upcoming games you should look into:
