There are certainly pro's and con's to each type of set up.
Toy haulers are generally more expensive and heavier. They do obviously offer a great cargo area if you need it. This cargo area is very versitle. The rear ramp can become a patio in some cases and certainly a great open air covered space when feasible for BBQ'ing and messy kids can eat but still be out of the sun and wind. They seem a little more friendly to having a bunch of people with you for this reason.
Some TH's just have different features and styling such as outdoor speakers, TV's and stereos consoles and nicer sound systems in general but there are of course exceptions. The cargo area is a great "mud room" when the carpet is pulled back if you get out and get muddy or even take a dip in the lake but want to change inside without a big mess to clean up inside where you normally wouldn't want mud and dripping wet kids (and adults) romping around.
TH's usually hold more fresh water and have larger waste tanks for "dry camping".
If the TH has a garage then keeping the temp the same as the rest of coach becomes a bit more of challenge in extreme temps. Moderate temps are not an issue. If it doesn't have a garage you usually either sacrifice slide outs, have "cheaper" fold up furniture, or just have a less than ideal layout to accommodate the cargo area unless you get a really big TH then of course you have the weight and size to deal with. Depending on how many people you have staying in the RV and how much time you spend inside will dictate how much this matters you.
Where you usually camp and how much you want to spend on a tow vehicle/RV will dictate the size and weight issues.
In short if I didn't need to carry large cargo I'd opt for a regular 5'er. But since I have ATV's then a TH works well for me and the trade offs are worth it and in some cases very beneficial and quite nice.