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Webwork - 10:59 pm on Mar 27, 2006 (gmt 0)
If you want to build a stream of non-search engine referrals, and take whatever you get from SEs "as a gift" (not essential to your success, but nice) then you might do better to put all your effort into 1 website.
The answer might depend on where you intend your future traffic stream to originate from.