If you don't have anything to say, don't let those HTML files off your hard disk. If you have just enough content for one page, then keep it at that. Of course, there could be divergent views on whether what you have to say is useful or not. If it isn't, you could end up on the Useless Pages, which is not where I want to be when I grow up. Graphics Are a Waste OK, they're not all a waste.
Graphics can be useful.
But generally, Web designers stick useless and bandwidth-hogging graphics on their pages without thinking about whether they further the goal of the page or just take up space. If you're going to stick graphics on your pages, make them useful. Dorky little icons instead of simple bullets are not useful. Image maps are a particularly insidious form of graphics because they're so completely useless if everything doesn't work exactly right. There are lots of sites I run into that have nothing other than image maps on their front page.