It is generally accepted that it is better practice to store images on the file path,
Security and backups are two things that you will have to take care of, and you will need a system to ensure your data stays in sync with your database.
this article summarizes the points nicely;
http://databases.aspfaq.com/database/should-i-store-images-in-the-database-or-the-filesystem.html
This is until you get sql 2008 and can use the new FileStream data type.