I believe the ratio of 7:3 is perfect. One needs to have more academic knowledge as compared to practical knowledge. Experience teaches a lot. I strongly recommend knowledge over experience. Lets have an example: comparison between a person without knowledge with 7 years of experience and a person with knowledge with 0-1 year of experience. Both of them are working in a medical device company. They are working over a project and due to some reasons it is stuck. Experienced guy will help in troubleshooting the problem with lack of information. Whereas knowledge guy will help be more efficient and faster in terms of what exactly caused the issue in the project. I have been working in a Health care company where experience and knowledge plays vast role. Experience fails at one or the other stage but knowledge does not.

I would love to hear more about this from people who agree or disagree with my statement.