Hi Mike,
There is no universal solution for every situation. Computed columns are another posibility like views.
When you use computed columns you can persist the information so you will have it stored whith the rest of the table. This way you get better performance when accesing the column and also you reduce the number of objects to administer. Computed columns can be used in some constraints what can also be an advantage.
As usual, neither of the two options can always be used, so it will be necessary to see each particular case to find which of the two options is the one that best fits.