If you have not yet made the switch, it might be informative for you to watch this webinar. Two guys who are typically rivals come together to agree about just about everything regarding these two methods. Lots of good insights. I need to go back and be able to pause and rewind to pick up some of the better quotes from the hour.
There was one in particular where Chad Jackson was talking about all the expertise you need just to build a model. He said something to the affect that direct modeling was the lazy approach, but that was a good thing because you are not paid for brilliantly configured history-based feature trees, but for accurate models that represent the engineering and manufacturing needs.