I use Alloderm for my long term lip augmentations, and also in the glabellar region of the forehead (the area just above the nose between the eyebrows). The trick to having Alloderm last 5 years or more is to use the thickest piece, don't fold it, don't put any stitches in it. The process that eats up dissolvable stitches will unfortunately also eat up the Alloderm. You make an incision at either end of the lip in an area known as the commisure, and then use a tendon passer to position the Alloderm in whatever area of the lip you desire.
Some of the patients in whom I placed Alloderm over 10 years ago still have Alloderm present in their lips.
The pros of Alloderm are obvious. It lasts a very long time if done correctly and it is a quick surgery which can be done under local. The cons are that it is relatively pricey, and if not done correctly, can dissolve much quicker than you want it to.