If you can live without it (the "progressive" part of progressive enhancement implies that the site is still usable without the JS), then I don't think you should be using JS at all. Semantic HTML and CSS are pretty amazing at adapting content fluidly and dynamically to a wide range of users and devices. Search engines expect documents to be laid out in a certain way. Web scrapers can add a whole pile of usefulness even to sites that don't create explicit public data APIs. You're going to have a serious hell of a time making it any better, and can easily make it a lot worse.
And on the other hand, content sites aren't the be-all, end-all of the Web anymore. The Web is increasingly a deployment platform for applications, and there are a whole host of applications that just can't be done in the browser without JS. Luddites who complain about "but I got JS disabled" aren't the target market for an image-editor-in-the-browser. Failing to load JS at that point is just plain failure to load the application and no amount of Progresso Soup is going to help you.
So yeah, I much prefer all or nothing.