Obviously, the advantage of a 998 is the ability to recoup costs if you beat the offer and the pressure to settle that puts on the other side. The main disadvantage is that, since you want to ensure you beat the 998 at trial, you want to be conservative with your offer, and when you are conservative, you potentially rule out the possibility of a higher settlement.
This answer is a general interpretation of the law and is not fact specific to your case. Likewise it does not create an attorney-client relationship. You should seek an attorney for a review of your specific facts and documents.
Also, certain cases allow you to accrue pre-Judgment interest on the principal sum awarded.
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