Overall, I'd have to go with about equal amounts of each, though of late years, my reading has been predominantly fantasy and even more narrowly dark fantasy/horror, due to the long-term writing project I'm involved in. However, my overall reading and taste for a very long time (if we leave out horror, which has always been a love of mine) was more sf than fantasy -- into my teens, as a matter of fact, so it rather balances out.
I have to agree, though -- I'm beating this one to death, I know, but it's the truth. What I see happening in fantasy (and, to a somewhat lesser degree with sf) is a stultification and insularity uncannily similar to what happened with the original Gothic novels, with an attendant tendency toward more and more bloated multi-volume novels (we'd call them series now, though the structure is often damn' near the same), leading to tremendous amounts of flab and repetition and lack of originality. And I expect it to have pretty much the same outcome: the field becomes so insular and so incestuous that it basically withers in its own waste. And, frankly, there's no need for that.
Fantasy has riches galore that make the vast majority of the current crop look very much like what andrew said earlier (only I'd add an epithet to the description): badly written romance novels. There are notable exceptions, but not nearly enough. For those who'd like to see what good fantasy is about, go back to the older classics, and you'll see freshness in handling ideas that have become stale, and darned sure better writing than most of the current crop of fantasy writers. It's why they continue to resurface over the decades....