I bought a camp chef fire ring and tested it out over the weekend. Overall I'm satisfied with it. It was a smaller fire which would be perfect for two or three. Also, there is a turn knob to allow gas from the line into the fire ring and by slowly turning it, the flame is adjustable. Not sure if that's the intended purpose, but I figure restricted propane flow allows for a more efficient fire conserving fuel if I don't want it full blast.
Advantages:
sit 360' around it as there is no smoke or harshness
lava rocks put out decent heat once hot
adequate sized flame for small campfire
small, as heavy as a bundle of wood (lighter than an actionpacker of wood, easier to transport - Easier to pack this and a 20lb tank than a week of wood.
cook over it
inexpensive - This depends on if you purchase wood or gather it. Many places don't allow wood gathering and thus this fire is less expensive to run than purchasing bundles.
Just turn it off and go to bed without worry of sparks or wasting gallons of water to put out wood
Disadvantages:
small campfire (won't have that big group bonfire feel)
carry a 20lb tank for extended use (although still smaller than multiple bundles of wood)
no wood popping or sound (hissing propane)
I could post a few more if I thought about it. I think I'll hold onto it for a little longer to test on an extended stay. If wood is available, why not burn it? Although I guess it's more environmentally friendly?