Consider the purpose of a website - to get information out as easy as possible, or for a business, to get information out there so people won't have to call you (to reduce the workload of the employees)
There's got to be a combination of both, but I wouldn't attempt to say that it must be x% aesthetically pleasing and x% functional. Though you want a site that is 100% functional (as in no broken links, etc.), you will still want a site that is pleasing to the eye.
I've seen some that were so beautiful, but there was nothing to make me want to come back. And I've seen sites that have great content, but the graphic side was so horrendous that I didn't go back. So even sites that deal mainly with content need to be set up so that they are not offensive.
A truly great web site will have sufficient elements of both graphics and content. The keyword is sufficient. A graphics site will need more eye candy than a information site while the info site will need better content than the graphics site. However, both the graphic side and content side are needed for a good site.
Thanks guys! I apreciate your sugestions. Well you gave me some food for thought now. The only thing that I am lacking is err... technical knowledge to creat what I want, as Onur pointed out "you need more than the artistic side of the coin to win the game". Even to make something artistic I need to know how to do it. LOL. Its a pity I cant sketch my homepage on the screen (kidding). I am off to learning more about the technical side of the game.