I'm not sure about this. I really like shadow and high quality texture detail/reflections. MSAA looks great as well, especially the MSAA that is designed for DX11 and works in combination with Tesselation. Problem is MSAA is probably the single most crippling option when it comes to performance. I know that it is truly better than something like FXAA, but I like FXAA. Problem is, FXAA isn't available on all games and when forced through the control panel sometimes it really overdoes the blur effect.
I'm leaning towards settings because when your playing a game, the only time I really notice the jaggies is when I'm sitting still, things like low quality shadow and texture detail are way more apparent even in motion. So, shadow and texture detail>AA for me. What I can't decide is whether I want things like special effects over AA (DOF, fire/explosion realism, bullet decal).
I wish there was an AA that gave preference to objects that are close to the character and less on the objects that are far away. MSAA smooths the edge of a railing that is at the very edge of your sight in the game world, no one can honestly tell me that they notice this type of stuff unless specifically looking for it. When you actually playing the game and not just admiring the scenery.