[T-SQL] Stored Procedure Advantage

One of the SQL Expert was asked this question and which one is the best advantage, so here is the answer:

There are many advantages of Stored Procedures. I was once asked what do I think is the most important feature of Stored Procedure? I have to pick only ONE. It is tough question.
I answered : Execution Plan Retention and Reuse (SP are compiled and their execution plan is cached and used again to when the same SP is executed again)

Not to mentioned I received the second question following my answer : Why? Because all the other advantage known (they are mentioned below) of SP can be achieved without using SP. Though Execution Plan Retention and Reuse can only be achieved using Stored Procedure only.

Execution plan retention and reuse
Query auto-parameterization
Encapsulation of business rules and policies
Application modularization
Sharing of application logic between applications
Access to database objects that is both secure and uniform
Consistent, safe data modification
Network bandwidth conservation
Support for automatic execution at system start-up
Enhanced hardware and software capabilities
Improved security
Reduced development cost and increased reliability
Centralized security, administration, and maintenance for common routines