I went with rigid foam, but as SawDustB suggests, you have to pay attention to condensation and water. Any risk of flooding or moisture coming through your wall? Check for staining streaks. If so, you've got to watch out, you don't want to be trapping moisture behind your insulation and may want to fix your drainage situation before thinking of insulation.
I went with spray foam for our climate here in Nova Scotia. No regrets, it's a huge improvement over the batts that were there before. The big thing is the perfect air sealing you get with it, and no chance for condensation (the reason I had to rip it out in the first place).