Okay,thanks for the hand holding everyone I think I'm cleared up now. If I'm reading you right Sage, to my original question in the heading...its both. Or can be both. And my assumption about ignoring a threat can be possible too. If we all agreed that it was possible in teh fiction to take the blow but simultaneously finish the ritual then no need for a Deny Danger roll if the wizard chooses that route (thought he's probably paste, tough sacrifice!).
If I can mine this thread a bit further I think I've actually had a breakthru moment too, thanks to the post by Aaron. As I read through the Basic and sort of thought ahead about potential hicccups, I was sort of imagining that there's a lot of stuff that could be just left up to GM fiat since no moves would be tied to it. For example, most of the thiefy stuff that you think about from D&D like sneaking up on people, hiding, climbing, etc. At first blush I thought, hmmm, I guess all that stuff is just handled narratively.
But now, thanks to Aaron's quoted passage, I think most of this stuff is probably going to fall under a Defy Danger situation right? If the thief is sneaking to get the drop on someone, there's actually danger there right? Being detected is the danger. So we roll for that. Same for climbing or even just trying to hide from something. Being spotted is the danger I guess, so we roll for that.
These were all situations that in my mind I was thinking, man, would be nice if there was a roll for that. That passage clears that up. There is a roll for it. Defy Danger. Thanks guys, this has been enormously helpful.