Advantage of an aluminum head is that you can run higher compression with ping (aluminum conducts heat better than iron,) and it's about 30-40 pounds lighter (if weight is a factor for you.)
Disadvantage? You almost have to run a higher compression ratio, and aluminum expands twice as much as iron due to heat (I'm surprised there hasn't been any complaint about "scrubbing out" head gaskets yet - but they probably designed a new one along with the cylinder head. The OEM and replacement gaskets are designed for iron/iron, not iron/aluminum.)
Also, since they get it as a raw casting, they can CNC it for consistency in the ports and chambers, and you can probably get larger valves (if that's important to you - but it's not a huge deal unless you're going all-out with forced induction and the like.)
A huge disadvantage is cost - both Patriot Performance and HESCO want somewhere north of a thousand dollars for the thing.
I've not been on the HESCO fori for a little while, I'll have to go back there and see what's new.