If you get a release like the one Jeff mentioned or one with a smaller lever you can still shoot a loop and only add about 1/8" to the draw. That's a lot for some but if your locked in that tight you can adjust the string to compensate and have it right back where you need to be. The loop winds up being very small and speed loss is minimal if not negligable.

As for pros...the biggest for me are 2 simple reasons. I can relaese from directly behend the nock as opposed to below it. This makes tuning easier and just seems "right" mathmatically although I couldn't tell you why nad I'm not good enough in math to provide an example

2nd...serving wear. If you serve your own this wouldn't be THAT big of a deal I guess, but I can't and we are talking about "average archer" right? Save money and hassle in the long run.

I flip flopped once I got a longer ATA bow but it'd never work to shoot of the string woth my Might Mite or Patriot at 29" draw. Ferocious nock pinch.