For me, being able to operate the buttons by feel is a key feature, and I find it pretty easy to do on my original Pebble. It's useful for controlling music playback or dismissing alarms without having to look at the watch.

I agree that there are disadvantages too. One of my jackets does make it harder to access all the buttons. And scrolling through a list one item at a time can be more annoying than just swiping and tapping on the item you want.