RE: Pellets
Pro - pre measured. perhaps faster loading (although that could be argued)
Cons - expensive higher cost per shot, pre measured so there is only set combinations of charges, harder to ignite so be sure and use a good 209 primer, must have special containers to carry in the field. Loose powder can be carried by horn or simple containers in bulk.
If your getting good results with loose powder, why change? Although it is fun to experiment.