I think that the main school of thought on that Omen is that you should concentrate your portfolio on a particular area, seeing as graphics jobs are usually specific to certain skills. For example with regards to 3D graphics you’ve got Character Modelers, Enviroment Modelers, Animators, Texture Artists etc. So basically, you should pick what your best at/enjoy the most and go with that, producing a reel which concentrates on that one area so as not to dilute your portfolio with work that might not be up to par with what your best at.
In my opinion, the portfolio should include samples of all your skills, but definitely you should concentrate on one or two skills and bring those aspects to the fore. For example, someone might want to concentrate their portolio on character modeling and animation, but that doesn’t mean they shouldn’t include any other impressive work they have done(eg: a nice plane or something) somewhere in portfolio!
So it comes down to this, try to target your portfolio at what you want to achieve, job wise. If you want to be a character animator for example, then concentrate on creating a portfolio which brings these skills to the fore. But rememeber also, that it depends on what type of companies you are applying to. Smaller companies tend to look for people with much broader skill ranges then larger companies, as they need people who can do multiple jobs.
My two cents on it anyway….
Edit: Tony, yeah…it’s a bad joke…..but it HAD to be done, i couldn’t resist it…. ;)