It depends on how many gears you have to play with (afterall gearing converts power to torque).
Its important to make sure that the engine stays between peak power and peak torque. When people refer to good mid-range, this is usually what they mean. If you work out the rpms drop between gears, then you know where you need your engine to produce its power and torque.
Hopefully your gearing gives you a range which your engine can work to (eg no point having a motorcycle power curve with a muscle car gear box).
I guess that's a long way of saying BOTH!
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