i think there is a bigger difference between audio qualities than there is with video qualities. i quickly notice when a soundtrack/effects are awesome, but am not as quick to saw wow about the video quality. having said that, if i had to pick poor audio or poor video, id rather have poor audio. but to answer your question, id rather have average video and high quality audio than vice versa. i am disappointed when a dvd isnt dts...

my taste is evident in the movies that i make because i will compress the video signal to squeeze in the better audio (i.e. 2channel, dolby digital for dts)...