Which is more important? A ND filter or a Graduated filter?

Right now I think a GD Filter would be more important especially when I'm in really contrasty situations where the top of the picture would be really bright in relations to the rest of the picture (i.e. landscape and cityscapes where the sky is white). What do you guys think? I've been taking a lot of pictures in HK, but most of the images seem to have blown skies. I think a GD filter wil solve it, but before I buy it, I need some input from you guys. I don't know how a ND filter will handle the situation anymore different from the GD filter.

Btw, I shoot landscape and cityscape pictures.

A graduated ND filter would certainly help you. But you could also bracket exposures and blend them afterwords as well.

A solid Neutral Density filter will not help in this situation, as it is designed to allow longer exposures, by decreasing light. But it is a filter that really can't be replicated in photoshop. Where the Graduated can be reproduced in photoshop.

Although there are two divided camps as to which way to go the filter method or the PP method.

I'd agree with the GD filter, but If you're shooting mostly static then I'd also suggest having a look at using HDR techniques. Here are some HDR shots of HK.

I'd pick a grad ND if I were shooting canon. All canons allow shutter speeds of at least 1/4000th of a second. There's rarely a reason to use an ND unless you want to shoot sub f/2.8 in the sun.

I can't agree that you can photoshop an ND filter.

The ND will simply reduce the amount of light that reaches the sensor over the entire image...it won't be of any help in this instance. For what you're trying to accomplish, a GND will be your friend. As someone else has said (since you'll be armed with your new tripod), another option is to set up and take multiple exposures for blending later. Or, even better if possible, pick a different time of day to shoot (although not always feasible). Also, set your camera's histogram to display in RGB mode and keep your eye on the blue channel...you'll see if you're blowing things out. If your blue channel is pegged to the right, dial in a little negative exposure compensation to drive it back to the left a little bit.