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I'd take and vote for both. Never ever refuse a paying gig. Pickiness and turning ones nose at refining ones art in any situation is foolishness, it's money. Do the work. Getting paid to do something you love is cake.
I think this whole thing is looking at it in a perfect world or setting and it is not going to happen to most of us if at all. I agree one gig a month that pays $400 v.s. 4 that pay a hundred sounds great but what is the chance of it happening often?
Most of us could maybe get a shot of the 4 gigs a month before we ever got 1 big gig and good pay. As for the down time? I would be cool with it since no way could I play 4 gigs a month and stay married no matter what the money was
It used to be quantity; we'd play anywhere, anytime, for like 3 or 4 people, LOL... now, I'm not so much into that; I used to just play for the love of playing; now, I actually have crap going on, LOL...