If you have relavent, compelling content for a high volume google query then by all means optimize for it. But remember that 20% of the queries Google receives each day are ones they haven't seen in at least 90 days (http://support.google.com/adwords/answer/2497828?hl=en) so don't be afraid to anticipate a future audience, even if the traffic isn't already in Google Keyword Tool.
Obviously, there are industries (news and trend based) that are perpetually in the cycle of creating, anticipating, or quickly reacting to new keyword spikes.
Either approach is valid, but I suggest you let your content and your passion for your audience be your guide. If you produce great content, and you are confident their is an audience that wants to consume it, then don't let the lack of keyword traffic stop you. The world just doesn't know they need your keyword yet!
Good luck,
-Jason