My vote SQL:
With very few exceptions I feel that everything that can be done in SQL, should be. It is generally faster, easier to maintain, and more easily controlled. But, then again I use postgres, and while I rarely ever need to, I have pl/perl to fall back on. Some advantages of using the database over perl.

• Static query plan
• Single transmission of data
• Dynamic updateing of view
• DB Dependant data stays in DB that it depends on