Which would you suggest for a new project?
I would suggest neither! Use Spring DAO's JdbcTemplate together with StoredProcedure, RowMapper and RowCallbackHandler instead.
My own personal experience with Hibernate is that the time saved up-front is more than offset by the endless days you will spend down the line trying to understand and debug issues like unexpected cascading update behaviour.
If you are using a relational DB then the closer your code is to it, the more control you have. Spring's DAO layer allows fine control of the mapping layer, whilst removing the need for boilerplate code. Also, it integrates into Spring's transaction layer which means you can very easily add (via AOP) complicated transactional behaviour without this intruding into your code (of course, you get this with Hibernate too).
