Pagination all the way. I can't tell you the number of times I've seen an image or something, and want to get back to it shortly after closing a window or something, and have to scroll, and scroll, and scroll, and scroll.
Let me quickly get back to the page I found the content on. Infinite scrolling still is pagination, but a less-useful form of it IMO. A hybrid approach would be ideal. Pagination that updates as you scroll.