No one replied? Dear me, how rude.
Advantages and disadvantages:
Modular
Advantages
Cheaper (half the price!), you can do other studies or a job at the same time, you get more hours in, there's no time pressure for you to take exams until the date of your first ATPL exam, you can choose the best providers in terms of quality, price, facilities etc. Once the CPL passed (if you want to go into airline you HAVE to do IR and MCC) you can get a part time job to help build hours.
Disadvantages
Takes longer, it's harder to make contacts with the airlines, you don't get such a pilot oriented social life (nor do you get to wear cool uniforms!)
Integrated
Advantages
Full time piloting! Now that's fun. Awesome uniforms, awesome facilities and accommodations most of the time. You get good contacts for airline jobs (although no guarantee, in fact chances are still slim), in a lot of schools you fly practically everyday, no faff about trying to find courses because they're all there for you.
Disadvantages
HUGE financial risk (they ask for massive lump sums that you'll lose if you quit or the school goes bust, look at Cabair), much much more expensive, very stressful during ATPL exams, you'll be surrounded by posh guys (although a lot of them will be really cool and nice). You can't trust ANYTHING the schools say about the pilot market and how things work, most of the times it's completely false, outdated or lies made to lure you into a false sense of security.
After a lot of research I decided to go modular but that was for peronal reasons. I do not advice to go with OAA or CTC, they're dangerous and you might lose a lot of money with them, I heard several horror stories. If you want to do integrated, I suggest ACA (Aviation Careers Academy) they're based in Florida near Miami but they teach JAA. Only a small 2 week conversion course for IR to do in Spain at the end, and the course lasts only 12-15 months. They also ask for a much much smaller deposit and are a lot more flexible in terms of reimbursements.