Well if your filter is located in a good spot I guess the relocation kit is not needed. Mine however is located below the intake manifold and between a motor mount. I barely have enough room to shove my hands down there, forget about seeing what I'm doing, just gotta feel around. It's really a pain.

As for the advantages you listed:[list=1][*]No question, less parts is less money[*]Simpler in that it has less parts, but if it's done right I wouldn't worry about leaks. If you question your own workmanship then this could be an issue.[*]The lines should always be full once primed. It's not like it will suddenly drain out unless you stick it somewhere really high, which is just poor placement. Also if the lines are noticably longer that means more oil capacity which could be a plus.[*]Depending on the difference in length this could either be negligible or a lot, hard to say.[*]Again this depends on how the lines are run. I don't see why adding the relocation kit you couldn't achieve the same effect.[/list=1]Also remember the relocation kit can allow you to run a different size filter than stock. Again for some people this will be a non-issue, others it will be very useful.

Hurry and get that thing on so we can see some action shots