I second the comment from ykagano, the biggest disadvantage is losing the V in MVC. Although you can separate the true ui class from the rest of your client side code, you cannot easily use an HTML page generated by a graphic/web designer. This means you need a developer to translate HTML into java.
Get a wysiwyg ui editor, it will save you lots of time. I use GWTDesigner.
The biggest upside of GWT is being able to forget about cross browser issues. Its not 100% but takes almost all that pain away. Combined with the benefit of hosted mode debugging (as opposed to Firebug which is excellent but not the same as a java debugger) it gives the developer a huge advantage in generating complex ajax apps.
Oh and its fast at runtime, especially if you use a gzip filter.
