at Satuit we use bLOBs to store docs and have a few DB's in the 50+gb range with total client DB's around the 1TB size. 85% is documents.
Performance is fine. Migration is a pain but not really a big a deal. Long-term (for commercial software) I think cost is one critical reason to move docs out of DB blobs. We run the DB storage on Fiber Channel SANs which cost way more than disk space on a NAS. So we're spending big money for storage which is major overkill for file serving, plus we have a warm DR so we have to buy the hardware twice!
In our next major maintenance cycle we will move to use MS SQL's Filestream feature. Nice feature which is unfortunately MS SQL only, but renders this question basically moot and would be transparent to Aware. Hopefully MYSQL will implement it soon.