It is easy to simulate the timer timing bit - just use the logic used to start the timer, add a NC done contact, and set your own coil. I have never found this lack to be a problem.
Biggest disadvantage is that the MicroLogix (at least some of them) has better math functions and the floating point is easier to use. If you don't do a lot of calculations in your program that isn't a big deal.
If you use a lot of subroutines the RSLogix gives a cleaner printout and cleaner editing. The DirectSoft shows all subroutines at the end of the main logic and not in separate screens.
The MicroLogix file structure for data is convenient (again depending on model) if you have a lot of math. The DirectLogic data register numbering and memory sizes are pre-determined.
Communications with the DirectLogic is easier to set up, easier to wire, and is a lot more robust.
Connecting live is easier with DirectLogic because you don't need a separate program like RSLinx.
The documentation for DirectLogic is a lot better, more compact, easier to use, and more logically organized.
I personally find DirectSoft easier to use than RSLogix.