I'd agree with the above advantages.
The downside is trying to sleep during the day. Some people have no problem. Heck, some people get three hours during the sort in a lounge chair. Others can't sleep worth a darn and fall asleep in the plane. I'm kinda in between. I seem to function just fine on the night side with four or five hours of sleep during the day. While I say I function okay, that doesn't mean I'm gung ho and not feeling somewhat tired all the time. I do find that each night of work and each day I sleep, in a row, the better I sleep during the day and the less tired I am.
The worst is switching back and forth. That should be illegal. I have a pairing coming up where I do IAH-RFD-IAH, hit the hotel around 5am. Do that four nights in a row. Then, end up in OAK. 24 hours off and a 5am show to RFD. With nothing more than a 24 hour break, I'll be showing close to when I've been going to bed all week. That's one of those things some computer program came up as efficient but doesn't work well in real life.