Application Development Opinion - Please Help

Your opinion is needed regarding a software system development priority. This is a real life situation. Please give you opinion (choose A or B), the results of this posting may be presented to the people making the decision. To have any impact on the decision makers, I am hoping that a least a dozen professional developers respond.

An organization has purchased a COTS (customizable off the shelf) software product for its Mission critical system. This is a multimillion dollar project. The committee that is overseeing the implementation of the system was given the following choice.

A) The project could implement 100% of the data elements for Initial Implementation, but not build any canned reports,
OR
B) The project could implement 60% of the data elements and build 50 canned reports, which would be available for Initial Implementation.

There will be 15 legacy systems integrated into the new system. Please state which option (A or B) you would choose. A brief or not so brief explanation of your choice would be appreciated but is not necessary.

Optional:Also include your background, qualifications and years of experience. Thanks.