As an old fogey, I see the pluses and minuses to both. When Ulduar dropped, I was very happy; it was a good patch with a good raid. But when the following patch basically not only wiped out Ulduar in terms of raid attendance but also delivered a less satisfying experience, the big downside of content bomb patches was exposed. Smaller patches may not always deliver as much content, but at least we're not forced to wait as long for the next thing.
So how about you? Do you eat your content one bar at a time, or do you wedge the whole thing in your mouth and chew?