This is all as it relates to me, as I'm pretty much a nobody;
Pro's
1. There is no loud amp, and doesn't piss my neighbors below me off at 3am when I'm tracking guitars on demo's (my DAW is 99% a writing tool).
2. It's easier on setup, and you can get more consistent sounds from track to track, whereas you might not have your mic placement exact each time you set up.
3. It's a good way to keep shitty room acoustics out of your recording.
Con's
1. I never feel like there is enough air when I run direct. I would honestly prefer to mic an amp up every time, because it just sounds better.
2. Stereo mics. Run say an SM57 and an MD421 (for example) and you have a lot more control over your sound, especially by easily changing mic positions.
This is an extremely amateur opinion, but I figured that I would respond since your post has sat there for 5 days.