They have to go together, because they're the first two factors of the "Noble Eightfold Path". This goes into the Compassion and Equanimity question that I was talking about earlier. Too much Wisdom can lead us to indifference, and not enough maturity on the emotional level. Compassion softens the practice, so we have the Right Intention for practicing. Our Compassion softens that harsh attitude, "Yeh, well, you're suffering because you just don't accept Impermanence! Get it?! Everything's impermanent, y'know. Why don't you wise up!"
It's not that easy, is it? Not that easy because we struggle with our natural human attachments, conditioned ignorance and the hindrances. Since this is difficult to do, compassion helps us increase our capacity to accept the unsatisfactory nature of existence, knowing all beings are subject to these laws of existence. As we develop Compassion, we understand that letting go of selfishness is letting go of Dukkha. That transforms our view of the whole practice. By letting go of selfishness and developing unselfish emotions we are laying down the causes for true happiness to arise, which is the opposite to what most people believe. So, maturity on the emotional level, through developing the unselfish emotions, we are more willing to accept what Wisdom lays clear for us to see. My understanding is that they are both important.
Compassion and Wisdom need to go together. They are the first two steps on the Noble Eightfold Path - Right View and Right Intention, which are considered the Wisdom sides of the practice.
Consider Prince Siddhartha, the Buddha-to-be's example. He opened to the nature of existence, contemplating disease, old age, death, and then arose the "Great Compassion" which motivated him seek the path out of Dukkha for all beings.
If a person contemplates the Four Noble Truths skillfully, Compassion arises.
However, without enough emotional maturity, people may attempt to contemplate the Four Noble Truths only to have aversion and non-acceptance arise.
Compassion helps us get beyond rejection, or running away from the world, trying to escape. Or even doing the practice through a wish to escape, which some people may have at the beginning of the practice - the "I hate the world, I'm gonna get out." attitude.
Rejecting Dukkha can bring about the annihilationist wish, "I want to not exist, because I hate the world, and I don't want to see it". Some people who have this attitude can be very determined to annihilate themselves. Normally it just creates more Dukkha. With Compassion there is an opening of the heart and people do the practice to heal Dukkha in themselves and/or others practice, not to escape.