Hard to beat a modern electric drill. Here are my con's:
1. Requires a large air hose to follow you around; one of the greatest inventions is battery operated drills where even moderately priced drills anymore work well.
If I have an air tool and an electric tool which do the same job I almost always chose electric because:
2. Air tools require more compressor usage which is one more thing to tax the compressor for usage and maintenance.
3. More you use your compressor, the more you begin to need a line drier. If I briefly use an air tool I don't turn on the air drier. If I start using air tools a lot the line drier goes on and is a big help to keep moisture down.
4. Air tools require oil. Often I don't add oil because I am working on things which will be painted and are in primer. I don't want the oil blowing out causing paint issues latter which often means I am not properly mainlining the air tool.
For me, I have an air drill and I use it maybe once a year. It comes no where near replacing my battery operated drill.