Once upon a time I had a strict no-dongle policy. I was badly burned by one developer, and had more than a couple adventures with one of the older PACE drivers (who didn't?)
These days I think I might be leaning towards preferring dongles... I have not had a single dongle related issue in several years (admittedly, I was fortunate to see a post somewhere when iLok went through their most recent debacle). Dongels mean I no longer need to keep records of license keys, or worse, keep backups of license files. Dongels mean I can carry my license with me.
As an example, my favorite reverb plugin thus far was WizzoVerb... hands down the best sounding, and most flexible reverb I've used. BUT, when Wizzo went out of business I could no longer authorize the plug-in. There was a guy who was supposedly providing auths, but I never received one last time I asked. Granted, without further development it was going to remain a 32 bit process, but I was fine with that!
Now it would be really cool if I could use any old thumb drive as a dongle - and that is starting to happen - but dongels ceased to be an issue for me when they started "just working."
Cost... well that'll always be an issue<G>! Pheonixverb sounds glorious, and I have no issue with paying the current price, I just don't happen to have that much change under the couch right now. Considering what I paid for a used PCM-90, that didn't work, the cost of the Exponential reverbs is quite a deal!