Well if you like your fish, chips and beer then Granville Island is for you. Granville Island is located under the Granville street bridge next to false creek (another great place) equipped with its own brewery (some of the best local beer available) and loads of restaurants serving every type of fresh fish (and I mean fresh as in caught that day) locally caught and fish mongers (mmmm fresh fish) to take the catch of the day home with you.
The restaurants are situated along the water front to give you that great sea side view of the passing ships while enjoying your freshly caught lunch or dinner. All the restaurants on Granville Island are of top quality and the food is second to none.
Also along Granville Island is a Massive Toy store where kids and adults can run and play with loads of stuffed toys or even just around the corner is a rentals shop where you can rent some roller blades or a bike and just travel around Granville island or even just around the area itself.
Granville Island has everything a tourist or local could ever want loads of shopping, restaurants, BEER and there's even a design school for the very well off. If you're going to visit Vancouver then you need to sit down in one of the restaurants and have yourself one of the locally brewed beers and some of the greatest fish around.
As for disadvantages well there really is none it doesn't cost anything to just walk around and look at all the shops and the experience itself is just an uplifting one.
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