Vaporizing only makes the THC melt and turn into a vapor, so you're not burning it and getting the carcinogens from the actual burning and the butane. You can get pretty fucked up off a vape bowl to the dome. Thats the pros.

The cons are that if its a real vape then your stuck to a wall (the cord) and have a limited area to work in. When using a whip and you have 3 or more people trying to get a hit it becomes more of a chore, unless you all work well together and can get a thing going.

Then personal opinion comes into play, I love hitting bongs, and smoking joints. The massive hits and the fact that I can walk from one end of my house to the other and not worry about anything except tripping over an animal. Vapes are great for body highs, I usually manage to pass out nicely after a good vape sesh. You can still get some pretty massive vapor hits, but man do they kick the shit out of your lungs.