For a fellow with one fletching jig, fletch tape is a godsend. I'm sure it's not as permanent as fletching glue, like Fletch-Tite, but it does do well enough for quick fletching of 6-12 arrows, whereas with glue you'd have to wait between each fletch a bit.
Pros and cons, but the pros outweigh the cons for me and I live in the hot south. I am careful about leaving arrows in a hot car, just as I am with my bows.
If you search in the Pow Wow "fletch tape" you'll get lots of threads on the subject.