You're comparing with others in p2pool. I'm comparing with non p2pool.
M
You could think in p2pool way.
If your good share rate is higher/lower than others in p2pool,
your average income is higher/lower than others in non-p2pool.
Then take low miner fee, tx fee, p2p, and coinbase tx as pros, and higher variance as cons.
Also, unless things have changed, p2pool can not be reliably run on a home DSL connection. That means folks like myself have to use a public node or suffer higher than normal rejects (and normal is high enough thank you!). That means you have two choices: trust the op of that public node, or get higher rejects. Both negate two supposed benefits of p2pool.