General characteristics of disc brakes:

Plus (+)

Easy to replace brake pads.
Cheap to produce in large quantities, therefore common in the automotive industry.
Better cooling than a drum brake , although this benefit is naturally reduced if the disc brake is protected with spray guards.
Ventilated discs have even better cooling performance, but can have a tendency to warp!
Elliptical sweeping of the surface carries away dirt more effectively and cleans the disc better.
A single brake calliper generates radial forces. This can be avoided by using twin callipers to balance the forces.

Minus (-)

Drum brakes or wet/dry multi-disc brakes do not generate any negative radial forces like a single disc brake per wheel.
One drawback if you want precise positioning is that disc brakes and multi-disc brakes produce some play when you reverse braking direction.
One possible weak area to watch out for with this type is the hub lugs on which the disc brake is mounted.