Depends greatly on what we do on the Moon. ISS doesn't have ice mines or regolith. And it's not an either/or proposition-- lower launch costs are being researched right now, by dozens of companies and governments. Advanced long-mission propulsion is being researched right now. And having a propellant and radiation shielding source that close would both lower launch costs for longterm missions (less need to loft fuel & shields from Earth) and create a greater capacity for long range propulsion (more delta v available where it's needed). If we build an infrastructure that can reach the Moon more easily, it'll let us reach everywhere else more easily too.
Originally Posted by Romanus
STARGAZING: All I see are the lights of a billion places I'll never go. --Howard Tayler, Schlock Mercenary
"It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change." Charles Darwin
"It is the duty of the writers to seduce me into suspending my disbelief!" Paul Beardsley