Average time spent on a new website by a new user is 15-20 seconds. Most of that time is spent quickly scanning and clicking to get a feel for the entire site as quickly as possibly. Stumble, Digg, Reddit, etc. do not help the situation.

Graphics pull visitors in. Content is what keeps them coming back. If that content is news, blog or helpful information, such a tech tips, money tips, tutorials, etc. then of course text is important. I'd like to see someone try such a site withOUT text!

On the other hand, small business sites work best with graphics and little blurbs which describe the entire service "in a nutshell."

It is a fact that people do NOT like to read online, unless they are already at a specific site which they have predetermined they WANT to read.