I voted for more fluff then crunch. Mainly because when you run a FR campaign that is what is useful, you can't run it without the fluff. That, and the fact that most of not core crunch is total crap. I bought one of the class books, sword and fist, and the whole thing was total tripe. Then the more crunchy FR books like MoF, nearly all the PrC were usless, but i still use some spells from the book though, the fluff in that was rather bland. In lords of darkness the fluff is great, whenever i am making a campaign or game or what have you in the realms it is thefirst book i go to, but its crunch is rather useless. I picked up the silver marches the other day, very very little crunch, but the fluff rocks and will it very heplful for the next campaign. The FRCS is probably the best blend though, it ad alot of fluff, and a good amount of crunch, with the difference being that the crunch wasn't crap. So i am all for the this new system of pumping out books, if and only if the crunch is good, and the crunch has a real relavace to the realms. Examples of what not to have is most of the PrC's from the maic of faerun, they had no relavace to the realms, they could at least of made something up. Oh well more books with crunch like in the campaign setting book, and fluff as useful as in lords of darkness. That would be nice.
just edited to say that in defence of magic of faerun the magic items were very good. better then the spells