I use the Tormach TTS system with a manual drawbar. For the amount of tool changes that I typically do, I didn't think it worth the additional expense and complexity.
Aside from faster tool changes, there are other advantages to the TTS system. Tools are loaded into collet chucks, end mill holder, drill chucks, etc. all with the 3/4" shank which fits a slightly modified 3/4" R8 collet (the modeification consists of removing a small amount from the face of the collet so the TTS holder seats against the spindle face). This causes the TTS holder to precisely reference the spindle face assuring consistent tool length each time the loaded TTS collet is seated. There is no need for touch-off each time a tool is loaded. Drawing the TTS holder against the spindle face produces a certain amount of force which is usually enough to unseat the TTS holder when the spindle drawbar is loosened. This allows unseating the tool holder with a light tap.
As to negatives, the TTS system does introduce additional elements into the drive . There is no such thing as a purely zero runout. Adding more components increases stacked runout. For all intents, this isn't much of an issue for hobby machinists. The TTS system does take up some of your vertical real estate which can be a problem on smaller machines. The ER20 collet chuck adds a little over 2", the end mill holders, about 1-3/4", and the drill chuck adapters, about .6". The TTS collet system is somewhat limited in the tool diameter which may not ber an issue for a small mill. The ER20 collet's largest diameter is 13mm. Tormach also sells ER32 collet chucks which extend the tool diameter to as much as 7/8". The additional components do contribute to reduced rigidity. The TTS system is used to best advantage with a DRO. Tool offsets can be measured and recorded and used to set tool offsets.
The bottom line is that , having used the TTS system, I wouldn't go back to using R8 collets. In addition to my Tormach CNC, I have also converted my old mill drill to using the TTS system. If I need to run a larger end mill, I can fall back on my R8 tool holders but virtually all of my machining is done with the TTS system.