Music is more important!
I even bought my $2000 sound system before I even had a good TV etc.
For me music/sound are more important than the graphics/video.
Music can have an impact on the feeling you have in a scene even if the game is 8bit graphics. It can also plausibly be used to change the mood within a second.
Graphics are used to explain what is going on in general but music/sound is filling the scene with "life".
To bad that alot of times the music is just being created for the sake of creating music with no connetion to the scenery etc..
P.S. a good example for how music can change your mood is the Majoras Mask clock town music you know that the game is becoming more "hectical on day 2 and more dangerous on day 3" even tho you dont see anything in the video
Its bad quality but everyone who remembers that game should know what I mean.
Day 3 starts at 2:35








