Pitfalls:
The main danger is jealously from others, and possible bankruptcy. These bindings are made to last for decades, and to protect the most precious work of their owners, so they are strong and durable. In addition you can usually get embossed gold lettering on the spine and front cover of the volume.
Cost:
Thesis Binding is far more expensive than any of the other methods mentioned here,
it can be as much as £18 to £20.00 for a single volume. If What you need is simply
capacity for a large number of pages then you will normally be better off with a cheaper Sewn Binding, while if you want quality of cover then Channel Binding will
be a better choice.