The main benefits of tabs (IMO), are: 1) small file size, and (2) easy creation via any basic text editor.
Most of the transcriptions I've seen online come in PDF format. While they're not huge file, the difference is definitely noticeable by modem users. Additionally, the only free PDF *creation* software I've seen is OpenOffice. (While PDF readers are abailable for free, you need Adobe Acrobat or a recent MS Office, or other commercial alternative).
Tabs also are waaaaay more common. The only decent collection of PDF transcriptions I've seen so far are at
Chris McCaig's website.
(Coincidentally, I totally prefer transcriptions, and whenever I can't find one, I'll see if theres'a tab available, then convert it with a rather nifty piece of software called
TabTrax, which I find works better than the other one postged above. TabTrax isn't free, though...).