I like baked lighting just because my laptop doesn’t handle SL well and most of the time I’m just able to use basic shaders. When items rely heavily on advanced lighting stuff (materials or shadows or lighting), I often only see really flat things that feel unfinished. Totally not a creator’s fault, but that’s why I prefer more detail in base textures.
I don't like baked lighting because I take a lot of photos and use many different windlights. It ruins a pic for me if it's a night pic but sunlight is on the floor.
I really like baked shadows in my architecture especially, even though I use the Advanced Lighting Model all the time. I just love the way it adds realism to it.