Advantages
1)Skill reassignment - awesome.
2)Bosses - FUN, i can take on a 30 boss by myself, it's awesome! (takes about an hour though lol)
3)Setting who boards your ship, very useful for the guild now.
4)SvS glitch - fixed YAY no more cheaters (except those who know how to make their ship INVISIBLE and fire THREE explosives at once *coughtredqueencough*
5)Graphics look much better, loving the sky.

6)Enemy ship health bars no longer vanish when i use 'open fire'.
7)Boss Battle now repeatable (no rewards though right?)
Disadvantages
1)TINY enemies, as cute as they are you can't just step on them...needs to be fixed
2)Kingshead glitch is now gone, i'm going to miss that for leveling on my little pirate, though i like the fact i have to find a new way

, as well as the fence thing apprently (haven't tested it).
3)Enemies running at me from really far away. I hate it! I went into the catacombs and was bombarded with about 3 gypsies, 2 raiders and a grenadier when i wasnt anywhere near them!
4)Hex eater is now useless, even if it's said to drain 'most' voodoo.
5)Weapons are UGLY. I like the doll that is all, but the others look awful. Cutlass doesnt even look like a cutlass anymore...
6)Enemies sprinting from one end of Kingshead to the other (as well as running in the air!) Floating navy still not fixed.
7)Notoriety rewards for new weapons - but what about us level 40's!?
8)Liutenants are all spiky and look rediculous when they fight (seen this on another thread which i need to take a look at to see if i can solve it) But undead french look stupid now, watched as a undead frenchy 'slid' up to my friend and 'poked' her with their cutlass, was very funny.
9)PvP still not fixed, still pirates running around Tortuga in pvp
10)Weapons do less damage
11)Seabeards expand and become fat when using taunt, then shrink back to normal size!!!????? (Apparently urchins do too?)
12)When a grenade is thrown at me i fly up into the air for a few seconds then land, as funny as this is i don't think it was part of Disneys plan right?
13)Buildings etc flashing as you're running towards them
Basically, MUCH more disadvantages. I'd post more but i have a ship race to win!