Ranked in these QuestionsQuestion Ranking
Pro Allows you to paint in full 3D
Since Substance Painter allows users to paint in full 3D, it can be used not only to paint full textures, but can also paint masks which can then be used in other tools (like Substance Designer) for material filter generators (like the ones used to make edge wear and dirt)
Con Can only export bitmaps
You can not export substance files in Painter.