If you're looking for DB failover only, then using a SQL technology is probably best.
That said, doing so depends on your (or your company's) level of MS SQL experience. If you have none, then setting up SEPM replication would likely be easier (as it's all wizard based, and you have SEP experience already).
If you do plan to go down the SQL route, then mirroring is relatively simple to set up, but does require some reconfiguration of the SEPM (or the use of availability groups) in the event the priamry SQL server falls over.
High level info from MS below:
http://technet.microsoft.com/en-us/library/ms190941.aspx