is it still the case that the better photo quality the less photos you can take?

My friend quality always matters for long term results as well as for good output. "Provide quality and get quantity (Profit)". Moreover Photography is all about expression of a unique idea in a better format. Our aim has always been entertaining viewers by best possible quality shots. Make others happy, they make you happy. I hope this is much for understanding the necessity of quality.

Regards

I'm thinking you mean image compression quality in relation to memory sized on your memory card.

In which case, this is true. But memory cards are cheap these days. Pay a few bucks and you can shoot RAW for a week with nothing to worry about.

The file sizes of "higher" quality settings are larger therefore obviously you can fit less onto a memory card.