Depends on what you want do do.  Even then, "more vs. less" is relative.

Less zoom + more pixels = larger files, maybe less ability to crop in
the field, but better ability to crop during post-processing and still
have an image with good quality.

More zoom + fewer pixels = smaller files (more per card), makes cropping
/ composition in the field more important because there's less margin
for cropping later without degrading resolution.

If it's really optical zoom (not digital zoom), I'd opt for the better
zoom, up to about 4x (presuming pocket camera here).  2MP would be the
bare minimum I'd consider (4x6 quality); I'd prefer 4-6MP (8x10
quality).  (As comparison, wallpaper for a huge 1920x1200 PC monitor
would only be 2.3MP; most monitors are <1MP.)

Richard

Considering that there is only one camera model made by Epson (The RD-1,
based on a Cosina Bessa R2) that is digital as well as being a
rabgefinder camera, you don't have a choice as far as megepixels go.
It's either 6.1mp or nothing.
Also, none of the lenses that attach via the Leica M lensmount are zoom
lenses.
The lens options available come (mostly) from Lieca, Canon and Kiev
Arsenal (zorki or Fed lenses) and are fixed focal length lenses, either
M mount or m39 with a Leica M adaptor.

If you mean in general (for fixed lens "prosumer" digital cameras) what
is more important optical zoom or resloution, then it is realy up for
debate (a matter of opinion).
As far as I'm concerned, as long as you are talking about resolutions of
3.2mp or less it is the amount of optical zoom that is important.
My reasoning is as follows: 3.2mp is fine for 6"x4" prints and can be
stretched without too much degradation (with slight pixelisation) to an
8"x10" print.
At 3.2mp optical zoom would be more critical, because cropping and
enlarging (in photoshop) at this resolution produces an image that could
be unacceptable even at 4"x6" print size.
Camera with sensor resolution of 3.2mp or greater, the image could be
cropped and still produce an acceptable 6"x6" print.
The greater the resolution of the camera sensor, the more that you can
compensate for lack of zoom or poor framing by cropping and enlarging.

It depends what you want to do with your pics.

My boss at work bought a 6.1 meg camera for shooting incoming goods to show
any faults to send to the suppliers,
then found it took nearly 10 mins to email the photo, he now has a 2 meg
with a 6 times optical zoom and is very happy as download times are much
quicker.

As I said you need to work out what YOU want to do with the end result.

But in my opinion get the longest optical zoom you can and compose in the
camera as digital zoom just crops the middle out of the shot.

Perrian