I voted other. The jury is still out for me, I'm using black sand (Carib-Sea Indo-Pacific Black) for the first time in a 6 month old 100g setup. Overall I would say things are going 'well', but there have been some unexplained deaths so of course I find myself reviewing all possible sources of concern, including the sand.
Pro -
Looks nice, high contrast with colors, hides detritus.
Con -
Not really 'sand', as we usually think of it. Actually mostly a volcanic basalt. No buffering capacity at all (not that regular aragonite sand has much either, at typical pH.)
Very hard, lightweight, sharp-edged, ferromagnetic grains - perfect for scratching aquarium glass and damaging pump impellers.
In addition to iron, contains and leaches a variety of other metals - nickel and vanadium, in particular, can sometimes accumulate in high concentrations. I am monitoring mildly elevated levels (so far) of these elements in my tank with periodic ICP-OES tests. Nickel seems stable but vanadium has been rising. Others have seen much higher levels of these elements with black sand. Significance is unclear but definitely implicated in tank problems for some people.