The first system has some advantages, including ease of use no complex set up and economy. Point and shoots are also fun for taking pictures on the surface, where theres a lot of light. One of this options major disadvantages is the inability of the photographer, in most cases, to direct light, since the strobe in these cameras is integrated into its body. Also, manual control of exposure is difficult to achieve.
Most professional photographers use DSLRs, as we have total and absolute control over the system. With a DSLR its possible to control aperture and speed depending on the situation or desired effect, e.g., movement. Its also possibe to point the strobes where theyre needed. But the system does have some disadvantages in that it can be cumbersome, hard to maintain, and expensive.