lilo and grub...pros and cons?

My project for this weekend is to get slackware 12 installed and functioning, and this will be the first time I do any real work with a boot loader. The slackware book available for free download recommends lilo, but in all the other linux installations I've ever used had grub. I'm going to go ahead with the lilo because the book has detailed instructions for it, and I want a different learning experience. What are the pro's and con's of either one over the other? And vote for your preference if you see fit.

You gotta be *plum* me? No votes or response?

As an update to this project, I don't understand what all the hubbub of the slackware install is. Everyone I've ever talked to said it is not for the timid, but the included setup program made it super simple and the system was working damn near perfect in less than an hour. It still needs a little bit of tweaking...like to that lilo configuration...and stuff just to make it a little more customized, but that shouldn't be too dramatic.

Is anyone out there actually reading this