Unless you're going pro, play what you want. Pros have to grind at cash games. They make their money off the tourists. The tournaments are an attraction for them because of the side games, not the tournament itself.
Sure, a big tournament win is very nice, but the variance in them is outrageous. Who was the highest big pro in the WSOP ME? Other than Allen Cunningham, I think Phralad Friedman was next closest. THe Iveys, Negreanus, Hellmuths, Brunsons, Lederers, et cetera didn't win a nickel.
I am not a pro (although I win more than I lose, which is nice
). So I play what I want to play, which is MTTs and SnGs. When the bankroll gets a little tight, I might grind at PLO8 for a while.