Originally Posted by Sheldon Brown
"Properly set up" is a biggie. If you look at a random selection of bikes with traditional cantilevers, I doubt that 10% of them _are_ properly set up.
See:
http://sheldonbrown.com/cantilever-adjustment
"V-type" brakes also solve cable routing issues for a number of frame designs. In particular, bikes with rear suspension can often be challenging/impossible for traditional cantis. Many recumbent designs also have issues with them, issues that are very neatly solved by V-type brakes.
I personally like the elegant simplicity of the "V type" brake design better than the more complicated traditional center-pull cantilever.
The only problem I see with "V type" brakes is that they do require special brake levers that pull more cable. These are widely available for straight bars, but none of the options for drop bars is much good.
Sheldon "V" Brown
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I like your answer, it's well thought out and explained. I like your binary joke better though.
Tim