Here's what I like most about it: large, easy-to-read display. My old eyes have a hard time reading tiny text and details on a watch-sized computer without reading glasses.
Too true. I expect that if you graphed age vs. the preference for watch style computers, you would find an inverse relationship. The #1 complaint with computers has been the inability to see the information displayed- particularly for us (ahem) "experienced" divers.
The wrist vs. console question has a lot to do with the diving you do, your diving environment, and personal preference. Artifact hunters, lobster divers, some working divers, and others who end up sticking their arms into holes are going to be very hard on a wrist mount. On the other hand, many photographers or divers whose hands are frequently occupied much prefer a wrist mount. However, unless you are doing a kind of diving that clearly pushes you towards one or the other, you can probably be quite happy with either. Other factors, like the quality or size of the display or multi-gas capability may be more important.
It is possible to mount an console in a way that makes it easy to use, and if in your area you use a compass a lot (often dive in murky water, for instance), it may be easier to use a console when navigating. An integrated console is arguably a simpler solution than a wrist mount, as it is a single piece of gear. Then again, some would see that as a disadvantage, on the "all your eggs in one basket" theory.
When we designed the Cobalt (Atomic) we did a console first, because they are more popular, and in many ways are harder to get ergonomically right. But we're working as hard as we can on a wrist mount, because neither configuration is right for everyone.