I'm about to create a node type event and have to choose between three different date formats, Date, Datestamp and Datetime. I've read how they are stored differently in the database, but that doesn't explain to me which is best for an event node type. Well, not exactly, from what I understand the Date format doesn't store time so that can't be used. I'll be using views to sort events if the make a difference. Which format would you use and why?
Especially in Drupal 7, you should use the Date field. Datestamp is almost useless, and there is no real need for Datetime.
http://drupal.org/node/262066 has the answer. It discusses the differences between the different formats and which is best to use in which case. Scroll down to "Date Fields."