Pros
- Weight
- Different designs to match (and enhance) the performance of the engine
- Lighter
- Easier to repair
- Looks (potentially)
- Cooler operation (especially if exhaust crossover blocked)
Cons
- Cost compared to having your iron in your hands
- Easy to crack and strip bolts compared to iron
- If exhaust crossover not blocked, does not like exhaust gasses as much and can oxidize and crack
In the end, your question is not really easy to answer, but consider an intake manifold another component that determines the performance range of the engine. If you take a very good CJ iron intake off of a healthy CJ, swap it for a Performer 390, you will likely lose much more than you gain. If you swap a 390 S code intake for an Edelbrock RPM on the same engine, you will gain significantly with the aluminum intake everywhere.
In the end though, some dual plane intakes like the RPM and Blue Thunder Medium riser are pretty darn hard to beat on a wide range of engines. Others, like the SP2P and some Offy intakes, don't beat anyone except in very unique applications. Finally, a CJ iron, especially with just a little plenum work, is a real good intake, if that is your starting point, it takes some thinking to make big gains