Here's a link to a post I wrote on why character is not plot. I'm thinking about plot a lot lately because I struggle with it so much and because I see other writers struggle with it so much. You have to be able to do a lot of things to get novels published and plot is one of them. But plot was hardly mentioned at all in any of the writing classes I took in college. I think part of that was most of the teachers didn't understand it and part of it was they thought it didn't belong in a discussion of "serious" fiction. But look at the best books. They're good stories first. All the other pleasures come out of that. There are a few that are primarily about other things, like language, but these are the exception. Most good and great novels are good stories first.
Here's some thoughts on plot and character: