I personally find overcommunication annoying and don't like to hear constant status updates from people; just handle the work and let me know when it's done unless you have any blockers. That said, I've received feedback from multiple people that they never know how my work is progressing, are surprised when it's completed, and would like more status updates along the way, so I think it's safe to say that my preferen…
For example, I would say I get too much email so I really don't want more: likewise IMs or other forms of interruption. Like everyone else, I have things I actually need to get done, so constantly fielding incoming communication can become pretty frustrating.
What I do need are timely and relevant updates, not constant updates and over-communication. I prefer dealing with these updates in a structured fashion, whether I'm giving or receiving them - e.g., weekly 1:1s and other scheduled meetings - rather than ad hoc.
Thinking in more general terms, I prefer behaviour and action that is considered rather than reactive. This goes beyond personal preference though: I don't believe it's possible to effectively scale by being reactive or ad hoc in your actions and communications. I also don't believe that people who cannot (or will not) structure their behaviour are suitable for management or leadership in a growing organisation.
Sometimes events require a more reactive approach but I don't believe this should be the norm.