Benefits of a 3rd person narrator include
- can switch between characters
- can reveal information to readers before it is revealed to protagonist
- the piece is already written (okay, that's not normally an advantage)
Benefits of a 1st person narrator include
- gets deep inside characters head
- allows personality to permeate every aspect of story
- I like it
It's a difficult choice.
I'm interested to know what everyone else prefers to write in.