CFCs and stored procs are not mutually exclusive. Stored
procs can be called from within a CFC.
A stored procedure will always provide a performance boost
over a query that submits SQL to the database server. The reason
for this is that the server must parse and analyze the incoming
SQL, produce an execution tree, optimize the tree, and do a few
other things, as well. With a stored procedure, these operations
are done once, when the procedure is compiled; with SQL that is
passed in a query , these expensive operations must be repeated
each time the query is used.
In addition, there are potentially some significant security
benefits from using stored procedures.