Stylistically, I think stained definitely works well for Arts & Crafts. People often think white painted when they think Victorian, but I can't imagine why stained would not work. For modern design, I don't think stained vs. painted but rather mitered/five panel vs. slab.

I am not sure what you are going for style-wise, but I know price wise, paint will be 20% more than stained, Glaze (which can be applied to painted or stained cabs) will also cost extra.

I am sure others will have more to say, but just thought I would get the discussion ball rolling.