Philosophical question really. For the Pike and Bass anglers here (as well as Trout and others) we could just as easily choose a light-med spinning rod and lures as our fly outfit. In technical terms the pro's seem to me to be:
Fly +
potentially better and/or slower presentation, the joy of casting a fly line

, usually lighter rods making smaller fish better sport, easier/cheaper to make lures (so less £££ danger casting into snags), fly/crab/shrimp patterns feasible if appropriate, more effective(???)
Lure +
easier casting distance/into wind, no problems with limited backcast, easier to fish really deep, no tangly fly line around or feet/in bushes, really big lures easier rather than harder to cast, less tiring when using big lures/in wind/at distance
What do others think? My preference is the fly but the lure +'s can't be ignored sometimes (particularly backcast - am thinking about switch or spey rods for some circumstances)
What are the thoughts of others?