I would say to never store images in a DB. If you lose a DB full of links, no big deal, your images still exist on the drive, and you can recreate the DB. If you lose a DB full of binary data, you may not be able to recover it at all. If you need to replace or modify the images, you will have to write a script to do it if you store the image data in a DB.
Not to mention, doing an insert query with large image data in it is certainly not efficient, nor is extracting that binary data for displaying it.
Keep images where they belong, on the disk.
