I've pondered this time and again. My conclusion is the advantages of the static version can be undone:

• use PATH_INFO rather than query parameters in your script and your dynamically produced documents will have URLs as simple looking as the statically generated ones
• use clever caching in your script and the database load will go down too; in fact you can probably cache output from after going through HTML::Template, making for close to static page performance

Not hard to guess which choice I advocate for..