What approach should we take in AI? (Score 1)

I am wondering what your thoughts are on the best approach to take when creating an AI network. There seem to be two major approaches from what I have read: a sort of information storehouse of facts and reason or a decentralized set of processes competing for limited resources. A more encyclopedic database of facts following programmed logical rules seems to provide AI which is very good at computational skills such as logic puzzles and playing chess, but doesn't seem to be able to deal with everyday tasks such as walking. Specific processes competing for limited resources within one system are much better at creating movement and allowing for other instinctual (for lack of a better word) abilities found in animals, but can such a system possibly develop into a system capable of emulating higher order thought such as planning, theorizing, and being self-aware? Both approaches seem to have their merits, but which one do you think provides the best possibility for creating an AI system which could come mimic, in some way, human mental capabilities?