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

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.