TA Pros:
Fixed IC . . . fixed longitudinally (essentially), migrates vertically roughly double the change in rear ride height
Nearly bind free when built correctly . . . in roll, yes, but it does provide a little stiffness against axle steer
Fixed pinion angle . . . close, it's fixed with respect to the TA axis, which changes its inclination with rear suspension movement
One less shitty to replace bushing in the suspension
"Easier to drive"
TA Cons
Potential for brake hop on hard braking
Reducing antisquat as axle and body get closer, increasing anti lift as they separate (brake hop potential)
Added unsprung weight
Reduced ground clearance
Potential need for exhaust modifications
3 Link Pros
Simple antisquat tuning independent of roll steer
Less unsprung weight
Better packaging
Increasing antisquat as body gets closer to axle, decreasing anti lift as they separate (Norm is this true for the S197 at all?) . . . sort of. It's detail-dependent. You can make the 3-link A-S decrease with squat and increase with rise just like a TA without having to try too hard. Actually, the OE 3-link A-L does increase with an increase in rear ride height, just that it's a pretty slow effect. See thumbnail (it's as close as measurements to within less than ±0.1" are worth).
3 Link Cons
Walking IC (potential for instability over bumps?)
Added bushings in shitty to replace locations
PITA to swap out
Huge increase in NVH? . . . detail-dependent
Technically binds in roll/competes with geo roll center unless spherical/spherical ended
Norm