HOWTO: Best Practices for Embedding Views in Code
It is a good Drupal development best practice to embed each of your views in code instead of storing them in the database. This technique will allow your views code to be managed by your version control system which makes pushing up changes to views from development to staging to live a much cleaner process. Additionally, since the views code is being loaded from disk instead of the the more expensive database you will see a modest performance improvement. All in all a pretty good thing.