the only drawbacks I have found so far (and I use Phantom):
1. Fabric is "harsh" on your gear. Had "pilled" the surface of my hood where it lies when I wrap it (7' hose)
2. the fabric also catches and retains the algae/slime in it, and requires extra effort to clean it up.
Some claim "floaty" (usually those with Miflex), but I do not seem to experience it with Phantom. I do find them to be more flexible than rubber. This is only year 1, so the jury is out.... Overall I'm currently pleased.
I do have the "new" Miflex hose that was sent to me under the voluntary recall, replacing a previous hose. My only dislike is the inability to swivel the gauge once pressurized. I also have a Phantom HP, (outside the recall lot), but have not gone to it. The "normal" diameter has some appeal to me.... not sure why....