Tow dollys are not as convenient as towing 4 down. We tow our Kia on a tow dolly and it does take a longer to hook up the trailer then have the wife guide me onto the dolly so I am have the van centered, hook up the tire straps and ratchet them down tight, drive about 5 miles stop and re-tighten the straps. Then re-tighten after 50 miles and then every 100 miles after that. You want to tighten the straps as tight as possible, preferably till the front tires start to look like they are low on air. So while it is somewhat annoying to tow with a dolly, it is not that hard.
A tow dolly is cheaper than equipping a front wheel drive vehicle that is not 4 down tow-able with the necessary equipment to prevent transmission damage. I recommend the Master Tow Dolly, I am the 3rd owner of ours and it is still going strong. I have not seen many tow dollys up close to see who made them, but those that I have were all made by Master Tow Dolly.
So the pros are you can tow any front wheel drive vehicle made, the cons are it takes longer to get hooked up and having to check the tire straps every so often.
BTW, you must leave the steering wheel unlocked just as you did when towing 4 down, the tires must be able to turn with the pivoting of the tow dolly. Only because we like to explore back county are we getting a Jeep Wrangler Unlimited Rubicon for our toad, otherwise we would just purchase what ever vehicle we like and use the tow dolly to pull it. I am going to keep the dolly even after we purchase the Jeep so I can pull other vehicles if necessary. It doesn't eat or drink LOL so it costs us nothing to keep but occasional maintenance to the turn table so it doesn't rust up from non use.
Best of luck with you decision.