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Tony,
There are indeed two sides to everything, (three if you count the right side), but I'm a control freak, so it would be my choice to hire in-house just so I know the work is getting done to my specifications without excuses.
However, I can also see the intelligence of outsourcing. It would be cheaper, you wouldn't have to change people every couple of years, and with a reputable company, I highly doubt that you'd have to worry too much about getting stiffed. Besides, I've seen incredible work done by folks whose ideas I'd never have had. Keep the ideas fresh and that alone is worth a fortune, imho.
Whatever you choose, I wish you the best.
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