I agree. With movies like X-men/Spiderman, I do like a mix of both. Just good makeup as well as over the top CGI.

With horror movies though I prefer make-up effects, it's just more visceral and more effective. Stuff like Haute Tension and Hostel if I'm not mistaken were done with very little CG if any at all, and turned out looking great in the gore department. I do realize that with horror movies sometimes the director would like to do things that aren't capable with just standard make-up effects, but most of the time the payoff doesn't look that great. It is nice however to see make-up effect artists like Gianetto De Rossi, the guys at KNB and Tom Savini still get work, and still get the respect they deserve.