IP Diversity vs Authority

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I hear that I.P. diversity is extremely important, but so are the quality of the links.

Well what if you have 2 sites for example, 1 new and 1 old. The old site has a PR 5 and a lot of internal pages with PR 3+. Would it be better to build links to the new site through all the traditional SEO methods like article marketing, social bookmarketing, etc. Or would it be better to take that time to write new articles on the old site link to your new one and get those pages up in the search results.

likewise would it be better to guestpost on high PR blogs or high PR web 2.0 sites and link back to your site and promote those links or to write a few articles and submit them to thousands of diversified directories that do not have a lot of authority?

What would be the long and short term affect of both of these strategies? Do quality links win out over IP Diversity over the long term? Or is it the other way around?
#authority #diversity

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