I've recently fallen in love with MF TLRs (I have one Rollei now, and a second on the way as a backup camera for the first). There's something about waist level shooting that makes such a big camera relatively inconspicuous (well, Rolleis aren't that big in the grand scheme of MF cameras) that is only equalled by 35mm rangefinders. I haven't figured out yet why a 35mm rangefinder raised to your eye is less conspicuous than a 35mm SLR - they're both in front of your face, and pointed directly at the subject. Once the exposure is taken, there's an obvious difference in the noise level with the mirror slap and the (probable) film advance motors kicking in.
As to advantages of 35, they've been pretty well covered - ability to work handheld, speed of operation, compactness, relative low cost, variety of lenses, built-in automation. I don't always see the relative gain in DoF as a plus though- I LIKE being able to blow-out foreground and background and just concentrate my focus on my main subject. And the lenses that are available for large format cameras just don't have analogs for 35mm. They never made a 3 1/2" Verito in any 35mm mount, or a Cooke Portrait with the knuckle-duster soft-focus adjustment. And you're forced to develop all 36 frames with the exact same time and temperature and developer chemistry - so inevitably there will be some frames that would have benefitted from altered processing that won't get it, or you sacrifice every other frame on the roll to the needs of the one frame.