Hey SRT8........You asked some good questions IMO and you'll get answers all over the board I'm sure.....
Your right there's always pros and cons to everything in this hobby.....For me tons of reasons why I opted the way I went.....I've had all the traditional tanks through the years.....I've bought standard tanks, predrilled tanks, drilled my own tanks, and then got adventurous and built a plywood tank (minus) the glass, and then went on to build my big acrylic tank, but bottom line it came down to a couple things......
I wanted something different, something your not going to go buy off the showroom floor.....You won't find to many tanks with 48" depth.....It had to fit "my space" which can be a limiting factor in most peoples cases....Everyone would like a bigger tank, but it comes down to floor space in the end for most.....Another big factor for me was weight.....A glass tank of that size and nature is extremely heavy....So I chose acrylic for my tank material.....Acrylic can be altered IMO easier than a glass tank.....Also shipping costs....I wasn't going to let anyone, but the best build my tank, and he's clean across the country from me so shipping made it rather tough......
I think part of the hobby that's most enjoyable to me is actually building.....I have the skill to do it; patience is a little slim at times, but by custom building my own tank, I was able to get everything I exactly wanted without having to compromise....Granted I may have spent a tad more on material building the way I did, but I sat down and thought out what the tank had to have.....1 no cross bracing......2. external overflow 3. CL system that I could tailor to my needs....4. Just allowed me to be creative and have fun!!!!!!!
You ask about shapes of tanks.....I think that's more a personal taste than anything.....Some will say certain fish require a certain length of tank, but I'm not in that mind set......Personally I refer a more "cubed" look vs long.....I've come from a 240 long, and looks neat, but the depth of a cube tank is quite nice to aquascape and allows you IMO to be more creative or not limited with what you can do......
IMO the biggest question is to sit down and plan....Think out what you want and what you don't want.....Can you get all your desires in a standard built tank or are you looking for something a little different.......What's the space you have to work with.....Are you handy.....Do you have fun building things.....All these things I think play into the equation if your DIY or buy......