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I thought the point of Hibernate was to speed things up
Really, the promise is ease of development, and long term maintainability. Applications that are hard to build are the most difficult one to complete, so hopefully Hibernate helps more projects get completed. Also, the biggest cost of any project is long term maintenance, so something that is easier to understand is also easier to maintain.
I love the criteria. There is no doubt that a well written HQL query might have some performance benefits, but I like the easy to read, and easy to maintain code.