I am a huge supporter of code over SPROC's. The number one reasons is keeping the code tightly coupled, then a close second is the ease of source control without a lot of custom utilities to pull it in.
In our DAL if we have very complex SQL statements, we generally include them as resource files and update them as needed (this could be a separate assembly as well, and swapped out per db, etc...).
This keeps our code and our sql calls stored in the same version control, without "forgetting" to run some external applications for updating.
