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I have a Polaroid Now/I-type (the one on the left there). Got it just for fun, too, and nostalgia.
I prefered it over a vintage one 'cause though vintage can be cheaper this is rechargable instead of throwing out batteries with every empty pack of film.
Pros:
Film is the classic size you'd expect, unlike alternatives.
They're fun. People get excited seeing them.
Negatives:
Really struggle with low light, even with flash.
Subject is best close up - think portrait only. Not great for groups 'cause you have to stand back.
It's focus can be a bit hit or miss.
Prone to motion blur.
Colours:
The second the pic comes out, stick it in your shirt pocket or arm pit or something to keep it warm so it develops colour properly. It's pretty good.
If you don't and leave it cold, it'll develop as a washed out blue which is fine if you want that.
Pics related.
Of the ones I've tried, I prefer this one if only for the frame size - if it's just for a laugh and you can burn a bit of cash, it is what it is.