Yeah, the story about the bed made me giggle. :)
My pros for riding bitless are using a pressure for riding that is mentally more acceptable for me than using a bit, easy maintenance and also my horse prefers bitless, and many horses I know are more calmer and respond as lightly as bitted horses. Cons - it seems that some things take longer to teach without a bit, for example, flexing at poll or maintaining a steady, soft contact, but I might be wrong and generally I think that these things can be taught without mechanical pressure at all. Also, many people misuse bitless bridles horribly, just because they think those are oh-so-softer and kinder to the horse. Well, they're not, if used with hard hands... Oh, and bitless bridles are good for novices to start riding in, because there is no chance to lean on a horses' mouth.
I have come a long way, to surrender my shadow to the shadow of my horse.