I prefer to keep the actual image data stored as a file, and just keep the info needed in the database to access the image (URL, directory name and file name, or whatever makes sense to you). Otherwise you'll have to have an "image server" script to serve up each image to be displayed from the DB, meaning each such image will require its own database connection, query, and data transfer from DB to script when the browser renders the main page and requests each such image in separate HTTP requests (not to mention whatever overhead the script itself adds to the process).
The only advantage I see to storing the actual image in the DB is that it will get backed up with the rest of the DB backups. That need not be an issue if you also back up the file system regularly, or for that matter there's nothing stopping you from storing the image data both in the database and the file system, as disk space is pretty cheap these days. That being said, I've always just gone with the image itself stored as a file and the data about the image stored in the DB.
