Two qualifying points:

1. If the projects you are selling yourself on involves coding - you should have some experience at coding or hire someone that does.
2. Larger projects that require multiple resources for longer durations enable specialization. Smaller projects that require one or two resources for shorter durations typically require a skill set mix of a broader nature.

It all depends on the project.

In my 31+ years of experience in IS/IT I have seen it all and done a lot of it. I do keep somewhat current on my coding skills but not enough to sell my services as one. It does keep me informed as a PM to comprehend and understand what needs to be done and who needs to do it and how long it should take. This is essential during the planning phases of the project - especially during the proposal/bidding phase.

In most consulting companies, a sales geek rarely goes only to a programmer to estimate a project from the ground up. They typically use someone higher in the org chart to develop proposals. Too bad because often projects are horribly scoped and proposals written with unrealistic expectations and descriptions of deliverables that are vague and arbitrary. This leaves the contract up for interpretation by the customer and WILL get the contracting company in trouble with respect to scope, budget and time.

And yes, I've spent my time in both the larger consulting companies as well as hung my own shingle out there.