Actually...SQL Server would cache the execution plan anyway. It's gotten smart enough to do that now. (When parsing the statement, it recognizes the "style", and caches the plan like it would for a parameterized query. They call it auto-parameterization, IIRC.). Parameters improve the db engine's ability to to do with complex queries, but realistically, most of the one's generated by django are pretty straightforward.
Paramaterized SQL is generally more useful nowadays in preventing SQL injection attacks and the like, and it's a nice-to-have, but no reason to rip up the whole foundation of the db-backend extraction. Though I think adodbapi DOES use parameterization. It's just slightly non-standard. (thus, the %s -> ? stuff above) Please note...I'm not suggesting it's unnecessary. It can often be a great help, esp. with complicated stuff. But not the end of the world if you don't have it.
