[Elecraft] OT: qrp - antenna is everything?

[Tim]

Hi folks -
From you pros - I'm curious. At the bottom of an 11 year cycle is it likely
that a 5 watt or less qrp rig will still reach anywhere in the world if you
assume the station can have ANY antenna it wants? In short, is it ALL about
antennas? I've not been a Ham long enough to experience the bottom of a
cycle and sure have never been lucky enough to operate on a really premium
antenna - so inquiring grey cells want to know :-)
Thanks folks.
73/Tim