It's been great reading everyone's thoughts on this subject. Particularly yours,
Welles!
Just to throw in my own two cents, I think that the technical and creative work best "hand in hand"... when one ultimately finds a 'balance' between the two.
Let's face it, you can be very technically adept at using the tools but if you don't have the artistic or creative ability to put these tools to good use...

And vice-versa.
Your question,
Nikkie, also depends on whether you are refering to "personal" or "commercial" work. I would think that commercial graphic artists rely more heavily on "skill" as, more often than not, they are taking direction from someone else (i.e. a client or ad agency).
If your art is more of the "personal" nature, then I would say that the "creativity" aspect is more important. The skills will ultimately be learned as the creative mind envisions and forces the process.