[chumbucket]

The only bracketed boat I had was previous to the Wellcraft, a 22' Grady-White Seafarer W/A.
Pro;
Full transom (no motorwell for following seas to splash into)
More cockpit space
Quieter cockpit from motor being outside the boat
Handles like a bigger boat

Con;
Handles like a bigger boat (there are situations where this can be detrimental such as steerage in tight areas)
Generally, depending on setup, less control in reverse (prop wash against transom)
Tangled fishing lines if you're not careful
If you moor or slip your boat, marinas charge by the foot

I'm sure there are lots more pros v. cons but thats just off the top of my head.
Given a choice of two identical boats bracket v. transom mount, I'd go bracket (you're welcome MJ ;D)