Savage - you'd just have to compare the specific heat capacity and thermal conductivity of the stone and the specific heat capacity of the water and thermal conductivity of the container it's in. I'm sure conditions could be created where either one could hold more heat and release it faster or slower. ie - the water in my water heater would hold heat for days due to the insulation. That same amount of water in an aluminum barrel with heat sink fins on the sides would cool off pretty fast.
The key is how much heat do you want to store, and how fast do you want to store/release it.
The key is how much heat do you want to store, and how fast do you want to store/release it.