If a Q&A site where prizes or giveaways were possible, would quantity trump quality as far as the giveaways or visa versa?

You would definitely get people gaming the site just to get the loot.
So quantity would go through the roof , and quality would most likely fall.

Depends on what prizes are given out for, doesn’t it?

@SQUEEKY2 You would definitely get people gaming the site just to get the loot.
It would be hard for them to do that if the prizes were based off trivia or other info only they would know, or those that were entirely random, even if the questions were based off users voting for users, setting up the “old boy system” as here, it would not be productive to someone trying to help their competition get the prize even if they are considered a friend.

That being said, IYO would you rather have smaller less value prizes frequently, or fewer major more expensive prizes?

Smaller, less valuable prizes less frequently. Or, “The Mansion” as a free lap robe, insulated cup or throw pillow.

Askville started that way.

^ free lap robe
What in Sam hell is that, and what good can you do with it? A laptop I can see, or a Kindle Fire or something.