Disadvantages: Price, availability, can only use 209 primers, only works in certain gun/breechplugs.
BUT, if you can get it, can afford the price, and your rifle will shoot it, there are a lot of advantages. I also have an easier time getting good accuracy with it, and waiting between shots or not, I just hate to swab between each shot. Lots of dirty patches to clean up with 777 too! In my guns where it will work, doubt I will ever use anything else.
That said, if I were just starting out, and had to pinch pennys, I would use pyrodex or 777 and never look back!