Depends on how the patches affect mods and modding. One of the reasons I invest in TW games is because of the fantastic mods that get produced for the games and the greatly enhanced replayability that brings. The mods are a big "bang for buck" multiplier.

If the lots of little patches means I have to have lots of M2TW installations to play the mods that are sure to be even more fun to play than the vanilla, then I'd rather have just a few bigger patches.