Crossbows are generally about the same power as a compound bow. Personally I prefer the traditional bow, but own a crossbow. Go figure.
The two major downsides to a crossbow are:
1) short bolts often go into bales up to their fletching or past, requiring frequent re-fletching if you can find the bolt
2) slower rate of fire, 2nd shot etc than a compound bow
3) accelerated string wear
On the pro-crossbow side, we have:
1) optical scopes w trajectory compensation etc are easily attached to most - but this actually doesn't extend the range for a reasonably good archer, in my experience
2) a bolt can be carried ready to fire
3) can be easier to shoot from behind some cover
4) if you get your bolts custom-made, you can often get a two for one deal on the shafts as they are half the lengths of some regular arrows