I'm coming from almost the same background and have heard the same arguments. I do understand that there are very valid reasons to put logic into the database. However, it depends on the type of application and the way it handles data which approach you should choose.
In my experience, a typical data entry app like some customer (or xyz) management will massively benefit from using an ORM layer as there are not so many different views at the data and you can reduce the boilerplate CRUD code to a minimum.
On the other hand, assume you have an application with a lot of concurrency and calculations that span a lot of tables and that has a fine-grained column-level security concept with locking and so on, you're probably better off doing stuff like that directly in the database.
As mentioned before, it also depends on the variety of views you anticipate for your data. If there are many different combinations of columns and tables that need to be presented to the user, you may also be better off just handing back different result sets rather than map your objects one-by-one to another representation.
After all, the database is good at dealing with sets, whereas OO code is good at dealing with single entities.