jmanj,
I agree with you that SQR is much more versatile than nVision (SQR is basically a report writing language, as such you can do just about anything possible thru normal programming methods - including API calls to other programs which extend the 'power' of SQR), however from an end-user and maintenance perspective (the ones who will be workign with and using the reports - not the person programming them in SQR) nVision provides data in a usable format - an Excel file - something that can be done thru SQR - but generally SQR reports are read only - or exported to a file, which would then have to be opened in Excel - of course you could program this into the SQR also, but then you can program just about anything given the time, resourses, and access - however maintenance on this type of application will not be very easy).
nVision doesn't inherently have the power to open different types of databases, however the question was regarding PeopleSoft - not different databases, and nVision is one of the most powerful reporting tools (other than SQR) that is delivered with PeopleSoft, and technically you can use VBA thru Excel to do just about anything else with the data that is extracted via nVision (including extracting data from different data bases to compare it to). It's really a matter of preference, since I don't have access to SQR, I am preferential to nVision. I have re-created several SQR reports in nVision in order to be able to work with the data in Excel, and haven't had any problems so far - and the users I have talked with perfer the Excel spreadsheet over the printed SQR report.
Obviously a strong programmer (with access to SQR) will probably perfer SQR as it is an actual programming language - and everything for the report can be built in one interface. To use nVision it is necessary to understand the accounting structure, including the chart of accounts, and have access to build layouts, trees, queries, report requests, scopes, etc. Which means that to build an nVision report it may be necessary to build queries, build or update trees, and build the layout - which require three different tools - obviously not the most efficient, but you have to deal with what you have access to.