Personally, I'd go for the latter, but that's because I'm not career-minded, just want a better quality of lifestyle through fitness. It also depends on economics - would the lower paid job still pay enough to cover all your outgoings?
For me, cycling and fitness is a big part of my life - I love commuting by bike, being home in time for morning/evening rides, going to the gym - and being stuck in rush hour traffic with no-where to go and your shiny steed in the garage is pretty soul-destroying stuff. Wears you down after a while. (And our train services aren't reknowned for their efficiency/punctuality either!) Power suits and a stressful schedule don't cut it for me.
Personally, my move to New Zealand in a few months is a whole new fresh start - and a pretty scary one. I'm leaving my job, saying goodbye to admininstrative work (having worked in offices for over 20 years) and aiming to do something completely different - I've no idea what. I'm lucky as my other half will be earning while we're out there (hence the move), so I have the option to do voluntary work at local animal welfare shelters and pick and choose anything I like. I'm very excited at the prospect, but scared also. Much like you, it's a choice of saying goodbye to the familiar and opting for something that will give me more opportunities to pursue the things I want.

Back to you (I don't mean to make this about me, simply saying I empathise with you), sometimes it's a matter of prioritising what you want from life and what your goals will be in, say, 5 years time. Will either path get you there? Will one get you there quicker and be a more enjoyable journey than the other?

I don't think I've helped in any way with this reply, but I guess that only you can choose the right path for you in the end - though no path is every really the wrong one, some are simply annoying detours that take us off-course for a while!