I've done both SS and BC/CC and prefer the BC/CC by far. I'm also one of those guys who color sands with an air orbital sander and 2000 grit paper (that stuff feels just like regular paper by the way). The biggest reason is that I can color sand a complete car in about two hours instead of taking a day or more by hand. Investing in an AirVantage sander was one of the best things I ever did.
The biggest thing to remember about a BC/CC paint job is to make sure you get enough clear on the car so that you DON'T sand through to the base when removing orange peel. Like has been said already, fixing a sand through is a big job and usually results in re-basing and clearing the entire panel rather than just touching up a small spot. The same thing holds true for SS. You need to have enough paint on the car that you don't sand through to the primer when removing peel, although in most cases a sand through with SS can be spot repaired.