Interesting argument. I've been building a network since it was running on a coax cable. No RJ45, No Hub, No Switches, No Router, and so on. This argument between analog and ip camera really interesting. IMO, Analog could be more reliable and secure, but in lack of quality compared to IP, the same to the old networking system running on coax. On the other hand, IP or network based system are can also be very reliable, secure, and way better quality, with one big BUT. That BUT is, everything will be tied up to a switch or a hub (I don't think anyone uses HUB anymore these days). Therefore, IP or network based system all very dependent on the switch (under circumstances where power outage is taken out from the variable), while Analog is tied up directly to the DVR. So, my suggestion, if you go with IP / Network based, do invest more money on the switch and secure it (of course secure the camera also). If you decide on the Analog, do install more cameras for better coverage.
Also, if some manufacturer will decide to make NVR with built-in 4 to 8 to 16 to 32 1Gigabit port. That will eliminate the bottleneck on the switch, so there won't be any network overload for High Megapixels IP Camera. The storage factor won't be an issue since Hard Drive capacity are getting bigger and cheaper, and most NVR are expandable via NAS these days.