Are there any advantages or disadvantages to using the Slayer form? Does it make a difference whether your alignment is good or evil?

there is a disadventage it is... I think your party reputation will decrease or something will happen with your char stats, I dont remember...

Your parties rep drops by two. And I do believe that some NPC get a little freaked out by it. I have never found to much of a reason to turn into the slayer form.

I rarely turn into that form unless its a emergency............I dislike using it.

I've never liked using it. So far I've only played using good characters and I always wondered if using it would lead to being "overcome by the taint of Bhaal blood." Being paranoid I was worried that a good character using the Slayer to often would lead to a change to an evil alignment or even make it impossible to finish the quest (ex. becoming stuck in Slayer form}.
Since I'm now playing using an evil alignment I wondered if there might actually be some type of bonus for Accepting my heritage.

If you stay in it too long, you die =P
I guess you could call that a disadvantage. Not sure if you can cast spells while in Slayer form? Also,
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Spoiler
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When you get the Slayer form from the Asylum you lose your other abilities (the ones you started with, such as healing or larloch's minor drain etc.). Short of shadowkeeper however, I don't think this can be prevented (You could edit yourself to get back the other abilities
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TOB Spoiler
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You can also gain additional "Bhaal-spawn" powers from the challenges in the ToB PC's Pocketplane. If I recall correctly you have to download something first to enable them though? The first time I went through there I already had some mods (Ascension in particular) installed...

Edit]Also, this just came back to me.
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"Cheat" & Spoiler
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If you are playing a multiplayer game, possibly you could export your main character, as in the "dream" sequence where you kill Bhaal. In case that was a little unclear, you can export your main character to avoid losing the stat point to Bhaal, you may be able to avoid losing your innate abilities this way too, though I'm not sure about that. If you're willing to try to cheat it that way, you might as well just download Shadowkeeper and edit it yourself.

[ 10-05-2002, 11:52 PM: Message edited by: Grammar ]

Of course there are advantages:
THAC0=-6
base AC=-4
MR=40
HP=150
4 attacks/round
STR=25
DEX=25
Cold damage

Bhaalspawn powers are part of Baldurdash
Major spoiler
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You actually lose those powers because you are stripped of your divine soul. But Bhaal taint remains with you and fills that emptiness where the soul was. That way you gain the ability to turn to slayer.