I disapprove of the "new" way (that is not so new, but it is the current trend) because it favors lock-in and general loss of control. But there are also some advantages such as being able to do versioning, syncing, collaborative work, searching and general database-like operations when your filesystem doesn't support it. A lot of popular open source "not evil" software use that model, for example, IIRC, Firefox has always stored bookmarks in an opaque sqlite database while Internet Explorer stored them as files in a folder, and I don't think I need to tell you which one is considered the most evil.