Ups and downs of jail breaking your iPhone?

Me and my brother are thinking of jail breaking out phones. But what are the pros and cons of doing this before I do it?

Pros:
customization
downloads from places other than the app store
more free apps
Cons:
Can force you to factory reset your phone
side loading too many apps can slow down your phone
can cause crashes
apple frequently issues updates that patch the exploits people use for jailbreaking, so you can't always perform updates

The advantages of it is that it allows you to do pretty much anything you want to with your phones. The disadvantages are a lot more, its illegal, will void your warranty, will not be repaired by Apple if it gets damaged, could damage the hardware if you do not know exactly what you are doing, and can be unstable and insecure as updates are not available for jailbroken software. Personally I would not advise you jailbreak your phones.

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