for personal blogs like mine, there's a standing belief that there's a direct correlation between the two: the more posts, the more hits, since you generate more visitors that way.
i'm beginning to realise that it doesn't always work that way, though. for example, a huge majority of my hits in recent memory came from a searches on the web, in particular, from my (in)famous kwek-kwek recipe to the Gloriagate scandal. perhaps, the correlation doesn't quite hold true because, in order to gain a following, you have to be able to create posts that have meaning and substance, and you think people are going to be looking for online. the post frequency helps get better search engine "visibility", i reckon.
anyway, i'm no guru when it comes to getting hits or readership or anything. i just like writing. everything else shouldn't get in the way of that.