We have been full-time CD'ing with DD (20 months) and plan to CD this baby too. I've tried a bunch of systems and here's my feedback on the pros and cons:
Pocket diapers (we have BumGenius and FuzziBunz)
fast and convenient to put on/take off - more like a disposable
easy for DH to deal with (he won't do prefolds 'cause he's terrified of diaper pins)
less bulky in the diaper bag for traveling
I find that they leak a lot, especially at night
don't fit well, especially now that DD is older (DD is small and skinny - the leg openings are too big)
sizing is awkward - you need to keep buying multiple sizes or you need "one-size" diapers which don't always quite fit
need to be stripped often and, IMO, retain 'stink' more than natural fibers, esp. in the winter when they can't be hung in the sun to dry
DD learned by 12 months how to undo the velcro tabs on the BG diapers -- which was occasionally problematic in public!
even more like a disposable than pocket diapers
flushable insert is convenient for travel, etc.
newborn sizing really does work for very small babies (one-size pocket diapers, etc., tend to be too big at first)
velcro tabs in the back mean the LO doesn't learn to undo the tabs by him/herself as quickly
esp. with newborn breastfed poop, the poop tends to get everywhere so you have to wash the covers almost every time you use them anyway
flushable insert is kind of a pain to dispose of - it's not as easy as it sounds
they're not quite as eco-friendly as they advertise themselves to be (they use the same petroleum-based gels as sposies) -- I wouldn't compost that gunk
for me, they tended to leak when I used a cloth liner rather than the disposable insert
the two-piece covers were annoying to take apart & put back together
buying the disposable inserts was too much like buying disposable diapers for me
inserts were really hard to find around here, most of our stores don't carry them
Prefolds and covers (Thirsties and Econobum)
A heck of a lot cheaper than any other system
Cotton fibers are easier to care for and hold 'stink' much less than synthetics
The covers leak FAR less often than anything else I've tried (esp. Thirsties - they're worth every penny)
Easy to pair with a doubler for overnight, etc.
Covers don't have to be washed every time they're used, so you need fewer covers than diapers
Diapers dry faster than pocket-diaper inserts -- i.e., less energy used -- and covers dry faster when hung up than pocket diapers
DH won't touch the diaper pins and I don't like Snappis much (but this is a personal preference - lots of people love the Snappis)
a bit more labor-intensive during diaper changes (can be a challenge with a wiggly baby)
Cotton stains more than synthetics
My verdict? Prefolds and covers, for sure. If I could do it all over again, knowing what I know now, I never would have bothered with the expensive diapers at all. I would have bought a full stash of plain cotton prefolds and a dozen Thirsties covers and considered myself well-stocked. I would never have bothered with the Gdiapers -- they were a HUGE pain. I still use the pocket diapers, since we have them, and they're ok, but IMO, prefolds are definitely the way to go. With this next baby, I'm stocking up on a few newborn size prefolds and covers so I can use them when s/he is little -- DD didn't fit into any of her cloth diapers until she was a few months old, we were using sposies until then. Oh goodness, the garbage!!!!!! No way am I doing that again.
Oh, and if you have access to a diaper service, go for it, it's marvelous -- but don't be intimidated if you don't. We don't have a diaper service in town, so it wasn't an option for me, but really, after you do it for a few months, washing diapers is really easy and just becomes part of your normal routine. Very simple, honestly.