Andrew:

I agree with you that from a performance standpoint, storing these files in the native file system is the better option.

But then, data recoverability is an issue. I had worked on a project that managed cases in XML and the XML files were stored in Documentum. We had to minimize data loss (once-a-day backup was not acceptable) and you had buy a pricey third-party software to ensure that data loss was restricted to 15 minutes in case of data corruption/system outage etc.

Venki