How many Doctoral thesis' are coming out of General relativity as opposed to String or M theory?
Much much more in general relativity, man are you kidding? Its the hottest thing in computational physics.
Just look at the numbers of google scholar hits. So far in 2010 there are 4300 for "relativity" and 1500 for "string theory".
A lot of respected scientists don't even think string theory is a scientific theory.
If you want to make a name for yourself and get a Nobel Prize which area of research are you most likely to get it from?
If you're in it to make a name for yourself you're in it for the wrong reasons. You follow whichever subfield you are most interested in. Otherwise you may as well just ditch the whole science thing and get a degree in Medical Physics where you can make some money.
If you're in it to win the Nobel Prize you're just stupid. Most people are way too old to enjoy it by the time they receive it. Plus your odds are better playing the lotto.
The last I checked Quantum work is primarily geared toward confirming what has allready been theorized.
Yeah, tell that to this guy:
Jonathan Dowling - Wikipedia, the free encyclopedia
There is still active theoretical research going on in ALL areas of physics.