For me gameplay = graphics = crucial, they are equally important to immerse me in a game and I think the game market has reached a point where there are enough games out there that provide good quality in both gameplay and graphics so I don't have to trade off anything.
I used to think that graphics are better than gameplay, but after so many years of playing games i learned that after playing more than 3 hours on a game i stop noticing the graphics, sure there are a few "awe" moments but you spend about 80% of your attention on playing the game not looking at the graphics, i would even say that the gameplay is the root of the tree where the graphics are just a branch of the tree.