2)Far faster than conventional disks on random I/O.
3)Extremely low read and write latency (seek) times, roughly 5 orders of magnitude faster than the best current mechanical disks.
For most people 1/2 will likely make far more difference to their
"computer performance experience" than next years faster CPU.
Typically when you have to wait it is for the disk.
9)Without moving parts, the data is essentially waterproof.
You also forgot
10) Uses less power
11) Is mechanically more stable against shocks (important in laptops)
1)Price –Flash memory prices are still considerably higher per gigabyte than those of comparable conventional hard drives – around US$8 per GB compared to about US$0.25 for mechanical drives.
That's the big major disadvantage right now.
2)Vulnerability to certain types of effects, including abrupt power loss (especially DRAM based SSDs), magnetic fields and electric/static charges compared to normal HDDs (which store the data inside a Faraday cage).
Any reason the SSD couldn't use a Faraday cage/mu-metal encasing
3)Limited write cycles. Typical Flash storage will typically wear out after 100,000-300,000 write cycles, while high endurance Flash storage is often marketed with endurance of 1–5 million write cycles (many log files, file allocation tables, and other commonly used parts of the file system exceed this over the lifetime of a computer). Special file systems or firmware designs can mitigate this problem by spreading writes over the entire device, rather than rewriting files in place.
Actually pretty much all standard flash you use (ATA SSDs, USB
sticks, CF etc.) has this "special firmware"
that does wear leveling automatically and transparently. They basically remap the blocks internally regularly. Magnetic hard disks do the same
in fact to hide errors from you. So even if you rewrite the same
file all the time (and file systems tend to have "hot" areas
like super blocks or bitmaps) they migrate slowly over the flash.
The only case where the OS software actually needs to care about
this are embedded systems where the flash chips are directly
connected to the SOC or other CPU. Then there are special
file systems optimized for this case (e.g. JFFS2 on Linux) or special volume managers that do the wear levelling.
But for all the PC class SSDs or other pluggable consumer
devices their integrated firmware will do it all.
4)Slow random write speeds – as erase blocks on SSDs generally are quite large, they're far slower than conventional disks for random writes.
It apparently depends on the vendor. Some are very slow on this,
others hide it effectively with clever firmware.
5)Speed advantage of SSDs can be overcome by RAID setups of conventional HDD, which may have more storage and speed for a much lower cost.
Even the best RAID in the world cannot completely hide seek latency.
When you need block X and there is no disk head nearby you'll
always have to wait. This means highend external RAID boxes can hide
it, but they do it essentially just by having a lot of battery
buffered RAM (= SSD) and huge caches.