It depends on how frequently the campaign is played. With a monthly campaign, I don't want to spend time deciding what the parties objectives are, I want to get straight to the action. I don't care if I set the overall goals, so long as I'm free to try and accomplish them in the manner of my choosing.
In a weekly campaign, that all changes. I want the abilitiy to define my own goals. I want to 'stop and smell the roses', chat-up random NPC's, turn incidental encounters into major plot points. Because I have the time to do so.
Honestly though, I never want a completely freeform game, where my character blindly lucks into scenarios that grant him his fondest wishes ("Well what do you know, I'm now the King! Funny world, innit?") I still believe its incumbent on the DM to create a variety of interesting plot points that don't originate from me, which I can choose to engage with. Just seems more... soild that way.