I'm just wondering what the advantages/disadvantage are of using the Content Compiler versus not using it.
I prefer to not compile files, copy them to the output directory and then load them in using other functions rather than 'XNA's' Content.Load<>() function. So I'm wondering if this my way works just as good or if I should go back to using the 'XNA' way.
When I load stuff I use the other functions, such as Texture2D.FromStream()
In addition to the other answers, the content processor also makes your asset into an .xnb file which is a binary form of the file which is smaller (so your game download is quicker by the user and takes up lees room on their hard dive) and by loading an xnb file from the content.Load<>() method, it will load quicker in game.