Are Stored Procedures bad?

I have always thought that you should use stored procedures when ever possible. But, after reading this:http://weblogs.asp.net/fbouma/archive/2003/11/18/38178.aspxMy world view is shackled.Are stored procedures good or bad?

Fran is an object developer who uses ORM(object relational mapping) to pass the structs to the relational model of the application and sells one ORM product so his opinion is biased. But some T-SQL and PL/SQL writers write code because it works and don't know why it works which can create problems if your application is using an ORM tool you can avoid those problems. But if you write T-SQL and PL/SQL because you know the language and functions, it is said there is no difference in performance.