Importance of quality, time and features

In an ideal world quality, time and features should be given equal weight in the software development lifecycle. The ranking for most firms it seems is: 1) quality 2) time 3) features. Quality should always be given precedence. If things need to go, due to scheduling, etc..., you need to throw out features first, then time and always try to maintain quality standards. Makes sense and we practice that here too.