Driver or 3 wood

I have just sold my titleist 983k and now have no driver just an old rubbish 3 wood to hit long shots (200yrds+). However i was thinking of replacing it for a new one maybe the callaway 450x or the ping g5 as i have some spare cash. However should i maybe instead just buy a driver?

What does everyone think is more important a driver or a 3 wood?

and most importantly

Is it still possible to compete with only a 3 wood?

hi proshank,
funny you should post this at this time,
i am so pi**ed off with trying to hit a driver that i went out and demoed some 3woods last week in the end i put my driver head to head with a cobra mspeed 3wood.the driver went 180yds fade/slice/fade/slice and the 3wood went 220/240yd straight/straight/straight/straight.
so to answer your question mate i can compete better because im not going to be in the woods anymore and im getting another 60yds

For me, the Driver is way more important. I'd rather hit wedge from the first cut than 7 iron from the fairway. It really depends on a bunch of things. How accurate are you with your driver. How accurate are you with your 3 wood. I'd say for most courses you'll probably be alright with just the 3 wood as it will still give you a fairly short club into the green.