question about which animating technique would be better

[hewhocleanses]

im working on a running animation for my model. im working with gmax and my question is what would be the best way to make this animation. would it be better to place the key points at regular points. meaning that you move say the leg alittle, place a key, move some more, place a key etc, until you finished the animation or would it be better to place the keys at the max movement. meaning that you place the first keys when the model just starts to move, then you place another key when the leg moves up to take the foward stride.