This is a difficult question.
You CAN make it happen both ways, tour and gig OR maintain a decent online-thing going on...
My first metal band has toured and thrown shitty gigs in small places with 10 or so people, for years, then hopped on the bill with some bigger names. Finally, a some sort of ratty record-deal is under discussion, and invites to abroad playing in a festival... Maybe 30-50 people even know of us at our hometown. It has taken a LOT more money than given back this far, since most of the gigging costs are played by the band thus far.
The second band of mine.. threw 3 small gigs, then toured 3 gigs with a big-name Norwegian outfit, and inked a multi-album deal from a foreign label. THAT is due to having decent online representation, AND a Manager.
A decent Manager will do more than touring, and a lot faster!.. At least here in Finland, where the "scene" is ruled by a not-so-huge-number of people. That is, if you want to go forward, not just enjoy the playing... a video in Youtube, myspace-pages and social websites have helped. This band has thrown ONE gig at our hometown, and is known to, maybe, 30 people at home.

..most of them taxi-drivers roading our drunken asses in and out of the rehealsals.

