I personally feel that the nikisil is much stronger...I have seen some pretty nasty blow ups with motors where the pistons have been destroyed....yet the nikisil lining hardly had a scratch. Sometimes I have even seen them look perfect and you could just prep the cylinder and install a new piston.
Disadvantages....costly to have recoated if/when the coating is damaged and can't be bored.
Those are just a couple obvious ones.