Do you store Application-Level Settings in your database rather than configuration files when possible?

For database applications, it is best to keep application-level values (apart from connection strings) from this in the database rather than in the web.config.  There are some merits as following:

1. It can be updated easily with normal SQL e.g. Rolling over the current setting to a new value.
2. It can be used in joins and in other queries easily without the need to pass in parameters.
3. It can be used to update settings and affect the other applications based on the same database.