Hopefully we've covered some of the advantages.
I was just pointing out that there are really a lot of concepts and technologies out there. Even with
HOB filters for example, you can have them with and without a bio-wheel.
You can put bio media in a canister,
HOB, or sump. You can put carbon in there, etc. So, in some ways, most "normal" filtration is exactly the same. Filtraion is biological, mechanical, and chemical - you can put any combination of that in most any "normal" filter. The sump really differs in the mechanics of it all.
My earlier post gave some of the advantages I see to a sump.
Some of the disdvantages include complexity, cost, space, and possibly noise. Also, if you don't set them up correctly, you could drain your whole tank onto the floor. Don't worry... it is easy to set them up correctly to not run that risk, unless you are cutting corners/cost by not using a proper overflow skimmer (or ball valves or whatever).