Games like Metal Gear Solid 3 have a great storyline but usually long, boring conversations. Games like No More Heroes have almost no story but great/cheesy/interesting dialogue. Games like Uncharted 2 combine both. at least that's how I see it. If u had to sacrifice one for the other, which is more important to you? I think I'd pick story over dialogue if I can't have both.

Story > Dialogue, IMO. Though not significantly.

I just want to shoot stuff. lol

Story >  dialogue IMO.

Great games like "Braid" have been made without dialogues. though great dialogue can help making better stories.  

Story over Dialog. There was a day when film was all about story and little Dialog. Those silent days were really something.

story for sure, but I need to mention that metal gears dialog is awesome

Dialogue > stories. I tend to prefer games that have mediocre stories but sharp, punchy dialogue (Gears, Uncharted, etc.) over games that just have great stories like... hm, I'll let you know if I ever play one.

I actually might have to change my choice. Really bad dialog makes me want to stop playing the game, but I can handle a crappy story. So I guess Ill go with dialog.

eh, I thought the dialogue was greater than the story in mgs3 >_<.

It depends. Really, I'll play either if it has a good story and not so good dialogue, or good dialogue, and not so good story.

When it's bad at both is when I'm in trouble
Well nvm it's ninja gaiden then, and then I just ignore everything but the gameplay and its still awesome.
But it's preferrable it's great at both.

But even if it has bad dialogue, and a bad story... see perfect dark. but it's incredibly campy and entertaining. And one of my favorite games ever, partially for those reasons...

So does entertaining mean quality. I dunno.

Entertaining and accessible gameplay with enjoyable repeat experiencing > dialog or story.  We are talking games after all.