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Pros and Cons of Garbage Collection?
ers asks: "Most new programming languages are using garbage collection, rather than programmer-controlled memory management. The advantages are obvious: programmers no longer have to worry about forgetting to delete allocated memory, leading to far fewer memory leaks. The disadvantages are often glossed over by programming language designers - aside from the performance issues, predictable memory management can be used for controlling access to files and similar resources, creating safer thread locking code and even providing better error messages. Some programming languages, which usually predictable memory management, can also be made to behave like they are garbage collected - for example, Boost provides various C++ smart pointer classes. So, given the choice between garbage collection or manual memory management, which would you choose and why? When using a manual memory management language, when do you consider the performance and syntactic overhead of faked garbage collection to be worthwhile?"
Pros and cons of garbage collection?
If you don't CONS, you never need to collect garbage. *rimshot*
More seriously, GC isn't so much about pros and cons, as it is about tradeoffs between the various GC algorithms: time vs. space, low-latency vs. high-throughput, parallelism, etc.
If you're designing a new language, it should include garbage collection, or nobody will use it (i.e., your target audience can already program in C). You may wish to have multiple GC implementations available for different purposes, perhaps to be selected at compile-time.
For a good overview of what's available, see http://www.memorymanagement.org/
My personal favorite is the good old Cheney semi-space collector (and Ephemeral/Generational Garbage Collectors, which are more advanced versions designed to generally have low latency), as it is very straightforward (both to understand and to implement), compacting (it defragments memory, and can perhaps improve cache locality by grouping related objects), and it has high throughput (work is proportional to the amount of live data, not total data).
If memory usage is of more concern than fragmentation and throughput, a mark-sweep collector may be more your style.
There are also "real-time" (and "soft-real-time", i.e. bounded latency [see Henry Baker's Treadmill]) collectors, parallel collectors [including an interesting case for reference counting, usually considered a dog performance-wise, as a viable parallel/remote GC method], "conservative" collectors for C/C++ (see Hans-J Boehm's libgc), collectors for real and hypothetical computers with special hardware and/or OS support for GC features, and some collectors that are just plain weird.
Note also that garbage collection algorithms are considered hard to measure for performance, especially with regard to wall-time latency, so just because a paper(*) claims that a certain GC has certain performance characteristics, be sure to benchmark if it really matters.
(*) Did I mention papers? If you're serious about implementing GC, getting comfortable reading CS research papers is a must. The book "Garbage Collection" is your best friend here, as it provides a very good overview/survey of said papers and algorithms, and it discusses a lot of pros and cons between various algorithms, and useful variants or adaptations that have been applied to previously-published work.
Also check out Henry Baker's papers, because he is a memory management demigod: http://home.pipeline.com/~hbaker1/home.html.