Hypothetically if you had to choose... and everything was on vinyl (so 7" and 12" singles; I'm talking about a hypothetical ideal music collection, and vinyls are just better) and money wasn't a factor.
Of course you're allowed to have studio albums in as well, but let's not focus on that. If you could only have either singles or compilations in your music collection, which would you choose?
I'd have to go for singles. Though it might be annoying having to get up and put something else on once the song is finished, I think it's more annoying having to browse through a whole album full of tracks to get to the one you want. Its also nicer to have more vinyls on your shelf by an artist you like, and they are the original releases, whereas I don't think compilations are that essential. In some cases they're not a bad idea as it's close to impossible trying to track down some singles, but that makes collecting them all the more fun in my opinion.
In other words are you a singles or greatest hits person?