— A multiple transmit antenna, single receive antenna (per receiver) downlink channel with limited channel feedback is considered. Given a constraint on the total system-wide channel feedback, the following question is considered: is it preferable to get low-rate feedback from a large number of receivers or to receive high-rate/high-quality feedback from a smaller number of (randomly selected) receivers? Acquiring feedback from many users allows multi-user diversity to be exploited, while highrate feedback allows for very precise selection of beamforming directions. It is shown that systems in which a limited number of users feedback high-rate channel information significantly outperform low-rate/many user systems. While capacity increases only double logarithmically with the number of users, the marginal benefit of channel feedback is very significant up to the point where the CSI is essentially perfect.