Oh I believe it
Like the people I've talked to who don't like using generalized functions stored in Postgres. They prefer to hand tune the queries. When you're querying terrabytes of data, maybe. But we were talking about a templating system for a (fairly) low-volume extranet. Take the money you save in developers' time ( ten minutes per query X several dozen pages ) and double the amount of RAM in your webserver.
There are times throwing hardware at it is the solution. Otherwise we'd all be writing in assembly.
