3. The only guys you see fishing braided lines on the local rivers are frequently Fraser sockeye fishermen with their 10' leaders. They don't really fish, they hope to snag fish.
Seriously?
I've run braid the past 2 years now. Yep you're right I use a 10-20' leader, but there is no weight attached to the line and a massive shiny spoon attached to the end. I guess I snag fish inadvertently when they chase my spoon 40 feet and grab it. I must be one hell of a snagger getting 13 steelhead days with a spoon, or 20 coho days off the beach.
As for the argument of fish seeing the line... well, my best days have been on spoons with braided line after I've run various baits, etc over top of the fish (sight fishing). Maybe they can see it, but I can tell you one thing, they sure don't seem to care much.
Pro's:
1) Casting Distance
2) Great feel
3) No stretch = better hook-set on a 300+ ft swing on larger rivers
4) Strength vs size/diameter
5) Don't need to replace it as often
Just what I've found, and hey, my better days have been with 15 pnd braid rather than 8 pound mono like I use to run. Then again I might be snagging the fish now a days
PS The gear is good as long as you feel it's good. I tend to run cheap-ish shimano gear. I love shimano stuff. I normally run Penn reels though, good for salt water and cheap. I'm a big fan of lighter reels 2000/3000, but if you like larger, go for it! I find it hurts my wrist after a while with an unbalanced rod.