This has been covered numerous times before, but for what its worth I store images as paths in the db, rather than store the image itself.
my reasons
reduces db bloat
reduces network overhead, especially if on a web app the images may well be cached somewhere
reduces backup overhead
I get round the security issues by being very carefull about who can make changes to the driectory where images are stored
you are exposed to people changing the image outside the app.. so its possible for the image to be modified and the app doesn't know anything about that.. but you can get round that by also storing file metrics (size, last edit etc) and do a comparison. it could be a problem if say you had an image of the CEO and some 'wag' decided to deface the image.