I have to say, I find it interesting how many opinions there are on full face masks. I don't know of any other equipment that is more misunderstood. First off, with proper training, the equipment is very safe to use. Although it wasn't mentioned in this thread, I've seen it in others that say they are dangerous. The act of breathing underwater is dangerous without the proper training. More people have been saved with the use of FFMs than have ever been hurt. Convulse or go unconscious underwater without one and survival is unlikely.
As to an increase in air consumption, I use the same amount as I did with a bite mouthpiece. Like any piece of advanced equipment, you'll get better with it the more you use it. It does take a good fit of the equipment and practice.
Bouyancy of the mask is fairly insignificant. Now, I'm talking about the Divator MKII (AGA mask). I find that most people that complain about the mask being bouyant as well as jaw fatigue over tighten the top strap. Improper adjustment of the mask will result in a bad experience with the equipment.
Out of air, well, I did that once. March 1979. Haven't done it since, for good reason. But, if you do, you'll need to either bail out of the mask and go to an alternate airsource or plan a contingency with a manifold. As Mike F explained, gas switching can be an issue. I'd bet though that the vast majority of the diving done by most, this shouldn't be an issue. As Mike explained, the masks are very difficult to flood.
There are three basic reasons to dive full face masks. Environmental, physiological and communications. I dive the AGA to use communications, although I also dive occasionally in water that I want to limit my exposure to as well. There are some masks that are better than others. One in particular, I wouldn't recommend to anyone. If you want to see some videos with audio of the communications, I have a couple online. Send me a PM and I'll send the link. Sorry, but I have to limit the bandwidth a little.