My take on the IP debate.
Old style CCTV with coax, camera and a monitor will (provided you use quality products) will produce a better image quality under all circumstances than IP. Period.
IP solutions offer advantages in terms of ease of install and connectability.
IP will get better with time, a year or so ago most IP cameras touted as security cameras were little more than re-badged webcams. There are some new lines of cameras from the major CCTV manufactures that are starting to hook up a good imaging device to a half decent video codec in a single package called an IP camera.
There are other issues with the IP solutions, example...
No standard:
I can fit a mix Panasonic, Sony, Bosch, etc CCTV cameras to a conventional system and they work happily together.
In the IP arena you have to use the same manufacturer kit through out, or mess about with trans-coding software/hardware multi format trans-coders that only work with the formats listed on the box, and not the format of the camera the client wants added in two years time.