My answer is, the pros and cons depend on what plants you are going to grow.
Many people use small bogs to grow various types and species of CP together, and achieve good results. As Est said, small bogs have many advantages, compared to pots. However, I have to say, small bogs are only good to those easy-growing plants.
You need to realize, by using bogs, all the plants in a bog are provided almost the same growing-environment. There is little flexibility to give different species different growing-environment (like water-level, light, water frequency, humidity). So bogs are suitable for those easy-growing plants. Fortunately, many popular species are all the easy-growing plants.
But if you want to grow some species that are picky to their environment, bogs are of course not suitable. As I know, some sundews are only thriving in a 2.5 inch pot, but not thriving in big pots, not to mention bogs. And some sundews and Sarrs love high water-level, compared to other sundews and Sarrs. Based on my experiments, even the easy-growing sarrs. and sundews are growing better in my pots than in my mini-bog.
Mini-bogs seem easy to build up, but you need very smart methods to provide the perfect growing enviroments. Just remind, in wild every bog has the moving water to clean the accumulated mineral. But in the artificial mini-bogs, the accumulated mineral cannot be completely removed (I know the tube-and-draining-hole method, but it actually does not work very well -- I mean, "not very well").
Also, the soils generally only last one year. That means, you need to change the soil each year. For pots, that's easy to do. But using mini-bogs or bogs, that's not an easy job.
If some plant in your bog is dead, then it is not an easy job to dig it out without disturbing plants nearby.
There is a compromise: put pots in the mini-bog with each plant growing in a pot, as described in The Savage Garden by Peter.
In summary, if you are growing those easy-growing species, then bogs are OK. But if you are growing some special species (which need you special care), choose pots.