Pros:

• Cleaner than wood
• Easier than wood - simply flip a switch
• More flexibility in installation
• More control over heat output and flame height
• Can be used to supplement the furnace to heat home, reduce heating bills

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Cons:

• Doesn't create the same smell and sound as a wood fireplace
• Can't tend to the fire
  

Pros:

• Can be installed virtually anywhere in the house
• Air-tight construction eliminates air quality concerns in home
• Maintains indoor air quality
• Many direct vent products are efficient enough to be listed as furnaces
• Eliminates the need for a chimney and chase - less expensive installation
• More flexibility in installation such as under windows or as a room divider
  Instant ambiance with the touch of a button
• More authentic look due to sealed combustion chamber, allows for flame-out-of-logs
• 100% of combustion air comes from outside the home and 100% of the exhaust is expelled outside the home - direct vents do not interfere with indoor air quality - doesn't use already heated room air for combustion air

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Cons:

• No "direct" access to the flames due to sealed combustion fireplace

Pros:

• Ease and convenience of gas fireplaces

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Cons:

• Potential backdraft of combustion gases depending on home's indoor air pressure
• Uses already heated room air as combustion air
• Less efficient than direct vent units
  

Pros:

• Less involved installation
• Potential to be installed in many places, BUT must follow room sizing requirements (typical unvented fireplace requires 96' x 20' room)
• Very efficient in burning of gas, but uses heated room air for combustion

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Cons:

• Air quality issues/health concerns.
• Typical sizing guidelines for an average fireplace size (30,000 BTU's) require a 96' x 20' room size - or 1,920 sq. ft. to safely accommodate unvented products
• Illegal in many states and municipalities
• A typical (unvented) natural gas stove or fireplace releases a gallon of water vapor every 2 to 3 hours of operation - potentially causing mildew issues
• May require more service to ensure dust, pet hair, and other chemicals are not interfering with the unit
• For safety reasons cannot be run for extended periods of time
• Requires permanent fixed opening to the outside for proper room ventilation

Pros:

• Instant ambience
• Utilizes existing masonry fireplace
  Ideal for warmer climates where extra heat is unnecessary
• Current technology allows better logs and flames than in past
• Burns clean
• Easy to use
• No ashes to clean

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Cons:

• Less efficient use of fuel vs. fireplace
• Little or no heating capability
• Opportunity for products of combustion to enter home in negative pressure situation
• Relatively expensive to operate vs. gas fireplace or insert

Pros:

• Aesthetics of the fire - smell, crackling sound, glow
• The experience of chopping wood and actually building a fire
• Firewood is more readily available in some areas
• Can be used to supplement the furnace to heat home, reduce heating bills

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Cons:

• Cleaning the fireplace, hauling ashes, sooting
• Cost of wood is greater than gas in most areas and is rising
• Requires a chimney, chase, footings, etc.
• May cause odors and particulates in the air
• Requires continuous maintenance to keep fire burning
• Peaks and valleys in heat output
  

Pros:

• Clean burning
• Allows extended burn times
• Can be mixed 50/50 with corn
• Easy to store
• Pellets are readily available, found in most hardware stores
• Some pellet appliances are self-lighting and run off a room thermostat

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Cons:

• Pellet appliances are usually more expensive than wood
• Consumers can't get "free" pellets like they can wood
• Pellet appliances require electricity to operate
• Pellet appliances historically require the most service and maintenance
  

Pros:

• Easiest fireplace product to install - just plug it in
• Portable
• Convenient
• Can be "installed" by anyone, no training required
• Ideal for apartments, condominiums, lobbies, etc.

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Cons:

• Not as realistic looking
• Lower heat output
• Depending on local rates can be expensive to operate