Probably the biggest advantage is the smooth draw. If you have ever drawn the newer wheelie bows, a lot of them have a very short valley, i.e. when you draw the weight ramps and lets-off real fast, the Oneida's have a longer valley, that allows you to easily pull through to the "wall", without the harsh drop off. I have shot a few wheely bows, and have yet to find one as easy to draw as the Oneida. They are fast, depending on your definition of fast! There are a few guys on here that can "super charge" 'em and can get very high speeds at low poundage and huge let-off (95% or better). You will be hard press to find another bow capable of doing what those Oneida's are doin'. My BE is stock, and is shooting a 5 grain / pound at just shy of 280 fps. But I also have a short draw length, and that drops my speed a little bit.
Another big advantage-- EASY to work on! No more goin' to the bow shop to have the bow put in a bowpress to adjust timing, or put on a new string. If you can turn a wrench, you can work on an Oneida! (BTW, never let anybody put your Oneida in a regular bowpress! ) I have been shooting an Oneida since Feb of this year, and I could not believe how easy it is to change cables or a string or limbs for that matter (upgraded mine to ESC limbs a couple of weeks ago.)

The forum here is also a huge benefit! Everyone on here is very helpful, and it is very much like a family! You have to watch out for mikieday and jeffpahunter though, they can be quite mischievous! There is a ton of info that can be gleaned from these guys, so ask as many questions as you can. Try to find a group like this at the wheely bow sites!

Disadvantages-- I wish there were more Oneida shooters at the archery shop I shoot for! I wish they were an Oneida dealer too! Actually as far as the bow goes, I don't feel there are any disadvantages to it!

One last thing, these bows are long enough to actually be shot fingers. If holding the full weight of the recurve was given you trouble with the arthritis, you might actually still be able to shoot fingers with let-off. Either way, just shooting these bows is a blast! There is just somethin' about 'em that is intriguing!