I personally feel that it is better to develop hand-to-hand skills first. You have to logically decide which weapon you are going to have with you most readily... Hopefully you have your hands with you everywhere you go, if you don't... How are you going to hold the knife, club, sword, tanfa, or staff?
If my experiences over the years are any indication, it seems that once a student gets involved with using a weapon they begin to rely upon that weapon forsaking all else. I've been in situations where I was attacked with knives, clubs, and chains and I managed to survive because the attackers helped me win the confrontation. How? By holding a weapon they told me exactly where the attack was going to originate... The hand holding the weapon. Granted that these were untrained assailants, but I've encountered the same thing when sparring with armed Black Belts. They had a huge tendancy to use the weapon exclusively even though they were far superior than I in hand-to-hand sparring skills.
The last issue is what I call the mentality of a weapon. I've discovered that an intelligent person will hesitate before using a weapon because of its potential to cause damage. Many wise self-defense experts teach their students to use a pepper-spray against attackers because they will find it much easier to spray the spray than to pull a trigger. However, the crook, who has experience, will not hesitate. Secondly, the spray is a lot safer on you if you lose the weapon and it is turned on you.
Knives are a very deadly weapon. The tip of a knife propelled by the simple force of your arm has more power than a bullet. Its a matter of physics. The power/momentum of a bullet is distributed over the area of its tip upon impact. Since a knife's tip is so miniscule the power/momentum is magnified and is able to do more damage. Because we all know this somewhere in the back of our minds a knife has a very huge intimidation factor which is why it is such a popular weapon. While there are many people who are able to threaten others with a knife, very few will actually want to use it on someone. A knife is a very personal weapon. You have to be relatively close to make a cut and it will most certainly draw blood. Most humans are naturally repulsed at seeing and smelling blood. I've been in a situation where I was armed with a knife and attacked by four armed individuals. Even though I was morally and legally entitled to use that knife, I couldn't bring myself to doing so. Maybe personal weakness or maybe I'm just a decent human being.
Blunt force trauma is the way to go. It is so much easier <mentally> to strike a person with a club or with your hands and feet than it would be to use a penetrating weapon. If you have it available, I would recommend using a club to thwart your opponent if you have the mental capacity to do so... but I would definately suggest that you learn how to use your hands and feet first because you never know when you might not have a weapon available.
Now, to look at it from the other angle. Lets say that your instructor is good enough to teach you how to not be reliant on the weapon if you are caught without it. I teach my white belts club drills as early as their second class because it teaches them how to relax and not be so stiff when throwing punches and open hand strikes. The two aspects of open hand and weapon training compliment and support each other if taught by a good instructor. But again, it doesn't do any good for you to learn how to use a weapon if you aren't taught how the skills translate and you don't have the weapon when you are attacked.
My two cents.