What are the benefits and drawbacks of children sharing a bedroom?

Throughout my childhood, I shared a bedroom with my 2 siblings till I was 10. The room was pretty spacious so we all had our own beds and little study areas. It was always fun at night, telling ghost stories and talking even though we were supposed to be sleeping. I guess that is one great benefit -- sharing a room promotes sibling bonding. Plus I was never afraid of the dark or if I had a nightmare, I knew that there will always be someone there. Drawbacks -- hmm the only one I can think about is when we argued, there was no opportunity to stomp off and hide in the room because everyone wanted to do the same thing. But I'm glad we moved to a bigger place and I got my own room right before I hit puberty and needed my own space :)

I've shared a room with my sister since young. Benefits is that we are very close. She looks out for me and was there for me whenever I'm scared or worried. Many heart-to-heart talks took place when the lights are out so that helped with bonding. :) I think it also helped in learning how to get used to sharing a bed (oh yes, we shared a queen size bed). haha.. I think because of the sharing, I'm a very good sleeper (i.e., keeping to my side, able to sleep with lights on etc). Drawback would be the lack of personal space. As space is limited, we only have a small space for our stuff. That's just my personal experience though.

My both kids, 5.5 years old girl and 2.5 years old boy are sharing bedroom for half year already. So far they enjoy each companion very much, especially before bedtime they will play for a while. Their relationship is very close which I wish to see from the benefit of room sharing. The major drawback is whenever one of them wake up, the other will wake up at the same time due to noise/crying.