Playing time is paramount to improvement. With that said, the question posed is a no brainer. Many parents and players chase that big name team for nothing more than bragging rights or ego. I don't mean to take anything away from these big namers, after all they had to earn that name to begin with.
I believe you sign-up to PLAY. You can have a great coach or a so-so coach, but what you get out of it is totally up to you. If you are solely relying on your coach for your development and no outside sources, you will not reach your full potential. I have not met a coach that is a great coach in all areas, but I have met coaches that are great in specific areas or aspects of the game. This is very much along the same lines as "just because someone was a good player doesn't mean they will be a good coach".
If the climate is right on both teams, I would always go with the playing time. There is no worse feeling that watching your team win/lose from the pine. Part of being on a team is making a contribution, win or lose.