Re: static vs. dynamic waza
Kihon waza (static) is important. It teaches you to move in an organized fashion, and teaches you the important details of each technique. Iwama students in my opinion often have the best, most clear techniques in the since of strict movement.
Ki no nagare waza (dynamic) is important. Without Ki no Nagare waza you can't really learn how to blend. Only when things are done in motion can you actually find the "Aiki" of the interaction. Often times Hombu style represents this best in my opinion.
You also must add Jiyuwaza/Randori to the mix. This teaches you how to use the techniques and blends under pressure, in a situation where you don't know what is going to happen. It teaches you to be spontaneous and adapt to what is happening. You see this in Shodokan/Tomiki style Aikido.
Those are the three types of practice I teach to, and all a very important.