Pros:
Service parts are available anywhere (coil, module, cap, rotor, etc.), eliminates the coil wire, eliminates all the wireing with the seperate module. Simple. Advance plates are real easy to access for tuning, wide gap between terminals.
Cons:
Looks like a GM part, must eliminate the ballest wire going to the distributor, harder to wire in aftermarket ignition boxes (MSD, Jacobs, etc.), may have interference issues with air cleaner and/or hood.
I don't run one, but I like the idea. If I was starting from scratch, I would consider it.