There are several approaches for automated functional web testing and the choice among them depends on a number of factors, including the tools used for web testing and the costs associated with their adoption. In this paper, we present an empirical cost/benefit analysis of two different categories of automated functional web testing approaches: (1) capture-replay web testing (in particular, using Selenium IDE); and, (2) programmable web testing (using Selenium WebDriver). On a set of six web applications, we evaluated the costs of applying these testing approaches both when developing the initial test suites from scratch and when the test suites are maintained, upon the release of a new software version. Results indicate that, on the one hand, the development of the test suites is more expensive in terms of time required (between 32% and 112%) when the programmable web testing approach is adopted, but on the other hand, test suite maintenance is less expensive when this approach is used (with a saving between 16% and 51%). We found that, in the majority of the cases, after a small number of releases (from one to three), the cumulative cost of programmable web testing becomes lower than the cost involved with capture-replay web testing and the cost saving gets amplified over the successive releases.