Polling Opions: NOD or Entity Property Values

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I was wanting to poll for opinions.
I am going to soon begin a fairly large project where I will essentially develop my own drawing system represented API using the AutoCAD .Net API. In times past, we've always developed our design automation around entity properties. Sometimes these can be very creative. For example, blocks with predefined attributes, making the layer name intelligent, using special dynamic block parameters to provide position, rotation, and even lookup information, etc.
So my question is this... What do you find most helpful for storing, retrieving, and managing representable information in drawings?
1. X Data?
2. Create entity properties as mentioned above?
3. Combination depending on....?
So far, from what I can tell, the big differences are that X Data provides a nice clean way of storing the custom information but it's downside is that your code has to be loaded in order for this to be accessed which makes it difficult for third-parties to access and use your drawings. But creative property usage can easily be used and maintained when third-parties have to access and use your drawings, however this can be a bit kludgy and requires extreme documentation of the property standards so that no one "does their own thing."
This seems to be a bit of a catch-22, so I wanted to poll the braintrust here and see what you do and why you see it benefiical?