Ok, first the cost...
Many "Honda" generators are really generic Contractor jobs with honda engines.
The more expensive ones are the Inverter jobs. and the prices have not changed that much. in fact they have actually gone down a bit in the last decade and a half.
THe advantage of the Honda Inverter types (Do not know about the others) is a genuine fuel pump. so they can "Suck" fuel out of an "extend run" tank giving virtual unlimited run time if you remember to get two extend tanks and swap 'em out every so many hours.
Advantage generator in general: Ability to recharge batteries and perhaps even run an A/C (or 2) when NOT connected to shore power... This will be a major issue for me in about a month.
Advantage 2 if you are not a full timer: IF the generator has the oomph (I'd say 3500-4500 watts minimum) I had a proper transfer panel and inlet installed in/on my house and when (not if) the power company failed me (And they did) I still had heat, Lights. Electronics, Food cold storage. NO problem
Now that is a major adavntage of a genrator.. Don't forget to run it monthly.
Cons.. Cost and storage space.
NOTE 3500-4500 watt tend to be heavy.. Within my lift limits but many can not. But a pair of Honda 2000i's (one companion) and a parallel kit. That works
My genny panel had the fridge, Freezer, Microwave, Lights (All but one that we rarely used. that was my "Power restored" indicator) and electronics
Radio, TV, Computer and associated hardware) Was very nice when I came home and found Frosty the air-blown snowman sleeping on the job (not inflated) Power out... So... In the words of Master card
Emergency panel (Generator transfer switch) $$$$
Inlet $$$$
Installation $$$$
long cord to reach out to the class A $$$
added wiring on the class A $$$
Class A with Onan 5500 watt generator BIG $$$$
Warm wife Priceless.