Pros for GVP is the SCSI module that doesn't requier opening of the case. These days however it's unlikely that many have A1200's with guarantee left so this isn't a big plus. Apart from that I don't think there's anything that GVP beat the Blizzard on but a few the other way around.
Cons are as stated already, custom simms that only goes to 32Mb and some progs doesn't like the GVP resulting in system crashes.