Strategy vs Tactics - Which is more important?

Okay, I know just about everybody is going to say "chess is 99% tactics" right? Well, here's a good one for you! I have a chess friend that can solve every tactic in Fred Reinfeld's 1001 tactics book at an impressive pace. Just flip the book open and BAM!, he knows the combination or tactical shot instantly. Herein lies the problem: He can't beat me in a serious game. I'm only average in tactical ability and I can't solve as fast or as many puzzles as him.

He's really strong in the opening and very tricky when lines open. As soon as pieces start coming off the board his playing strength decreases exponentially.

I believe the reverse is true for me. I have weak openings, but as the game progresses I get stronger. I attribute this to my endgame studies and positional play in the middle game.

As a side note: His playing strength according to CT-Art is 2050. Mine is only 1800. 

What's your take?