Personally, I lean significantly in the direction of preferring more, smaller methods, but not to the point of religiously aiming for a maximum line count. My primary criterion or goal is to keep my code DRY. The minute I have a code block which is duplicated (whether in spirit or actually by the text), even if it might be 2 or 4 lines long, I DRY up that code into a separate method. Sometimes I will do so in advance if I think there's a good chance it will be used again in the future.
On the flip side, I have also heard it argued that if your break-off method is too small, in the context of a team of developers, a teammate is likely not to know about your method, and will either write inline, or write his own small method that does the same thing. This is admittedly a bad situation.
Some also try to argue that it is more readable to keep things inline, so a reader can just read top-down, instead of having to jump around method definitions, possibly across multiple files. Personally, I think the existence of a stack trace makes this not much of an issue.