I would argue that putting is more important than driving for the ideal player, though the degree varies from person to person.
Statistically, if you look at all of the shots you take in golf (ball or disc), more of them are putts. Most players drive no more than once per hole on average, and approach no more than once per hole on average. However, most players putt more than once per hole on average. If you disagree, take a look at my thought process below, or check out your own scorebook (and separate drives from approaches).
Thus, you putt more than you drive or approach each hole.
From another point of view, let's say you can drive to within 30' of accuracy on any hole less than 400', but you can only putt accurately out to 20'. A 30' circle has an area of 2,826', and a 20' circle has an area of 1,256'. Your drives, even though you are a very accurate driver, more likely to end up landing outside of 20' than inside of it.
Evidence against putting being more important: the mental game. If you're a guy who thrives on nailing everything and having easy putts to psyc yourself up/psyc others out, then driving is more important to you. However, I would argue that these players aren't among the best, and that everyone will have to hit some tough putts in a round to do well. While some players value driving more, the majority need to putt well. Therefore I think to the majority of players, putting is more important than driving and approach (though you must have all three to play well).
(For the driving/approaching/putting section above:
Approaching: On all par 3 holes you are either driving or approaching off the tee, depending on your opinion. On a par 4 or 5 hole, you're approaching once. Overall, You're throwing an approach once per hole if your drive doesn't land on the "green", twice if you throw a terrible approach, and zero times if your drive does land on the green. From my experience, I throw just less than one approach per hole.
Driving: I am not driving on a decent amount of Par 3 holes (I'll just say half for the sake of argument). I am driving on Par 4's and 5's (once or twice per hole, respectively). This leads to just less than one drive per hole.
Putting: No matter how good I get, I'm putting at least once per hole every round. I putt on every hole unless I: 1) get an ace or 2) nail my approach. This happens less than once per round, and I 2/3-putt at least 4 times a round at a bare minimum. Therefore I average over 1 putt per hole (much closer to 1.5 or 2 putts per hole).)