Build From Source vs. Packages?

mod_critical asks: "I am a student at the University of Minnesota and I work with a professor performing research and managing more than ten Linux based servers. When it comes to installing services on these machines I am a die-hard build-from-source fanatic, while the professor I work with prefers to install and maintain everything from packages. I want to know what Slashdot readers tend to think is the best way to do things. How you feel about the ease and simplicity of installing and maintaining packaged programs versus the optimization and control that can be achieved by building from source? What are your experiences?"