I'm considering switching to mysqli for all my php projects. The way my code is written (I run very simple websites and built my own basic framework which I use across all of them) I shouldn't have too many problems modifying the functions and classes.

However, i've only heard positive things about prepared statements, bar a few grumblings about the php functions available, most notably the lack of a simple replacement for using mysql_fetch_array in a while.

This sounds a bit too good to be true, so I wondered if anyone could highlight some of the issues with using prepared statements, such as speed and resource usage.