The "official party line" would be to replace the tire, that your life is more valuable than the cost of a tire. To a great extent this is true.
The exception I'll make to that (personally, and I don't suggest anyone else do this) - is - if the tire is almost new; if the puncture is in the center area of the tread; if a patch-plug is used to repair it.
New means it has enough meat on it to make this worth doing. Having a hole that is off center or anywhere near the sidewall negates the idea since the patch isn't going to hold. Using a patch plug at worst will result in a slow persistant leak. It won't result in a fast deflation.
Doing a patch-plug requires someone who knows what they're doing.
This is the type I use (available at most large auto parts chain stores and NAPA stores):
http://patchboy.com/Merchant2/merchant. ... ode=9-3-39
Installing this sort of patch-plug requires removing the tire from the rim, and then using the correct adhesive on the inside of the tire for the patch (and the plug.) The patch seals the inner air-tight lining of the tire, and prevents air from penetrating into the cords/belts causing seperation. The rubber plug seals the outside - and keeps moisture and crap from getting in through the hole and damaging the cords/belts.
I have used these for many many miles, and when the tire was totally worn out, and being replaced, I tried removing the inside patch from the tire. It was impossible. It had bonded to the inner rubber lining and without using cutting tools, was not coming off.
Anything else I consider a temporary repair good enough to get me to someplace where I can get a new tire.
YMMV, and I don't recommend you do anything - just sayin' what I do.