Bernie -
I started bow hunting in 1958 as an 11 year old youngster, and started bow hunting antelope in 1975 as a 28 year old kid. The first 11 antelope I killed were all by stalking. I could run over the hills all day long as a lean 160 pound kid. Then finally, the years caught up to me, my knees gave out, and I got old, and fat. So I realized that had to either change my strategy or stay home. Staying at home wasn't an option, so I started hunting antelope mostly from a blind. Five of the last six antelope I have killed were shot from blinds at waterholes. I try to set up the blinds so the shots are pretty close. Only one of the five shot from blinds was over 20 yards.
In my very limited experience of killing only 17 antelope, the 12 taken by stalking mean a lot more to me then the 5 taken at waterholes, simply because I worked a lot harder for those by stalking and it was always a lot more fun to run over the hills, then it is now to set in a blind.
Hour per hour blind hunting over water holes for antelope is far more productive, if the conditions are right. Last year in camp, it rained like hell 9 of the first 10 days we were there. Far from ideal conditions for blind hunting over water holes... Fortunately, last year, I hunted for 3 continuous weeks in Wyoming and the weather got a little better later on.
I still hunt mule deer by stalking, but now in my old age, I know enough about the haunts they frequent in our area that I don't have to cover a fraction of the miles I did 30 years ago to get close to them.