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Well, the taxes stink and the protection is nice. Kind of a tradeoff. Are you comfortable having your personal assets on the line?
Some info [business-law.freeadvice.com]
Costs a couple to a few hundred bucks
Good chance you'll need a CPA
Taxes are considerably more complicated
Since you are just starting, you may be better off waiting until you establish yourself before getting into the mess of incorporating.
disclaimer: in my limited research these are the things I found, you may want to seek professional advice.
I can't afford to get mucked down in the details of running a business when I have a business to run. :)
Now it's time for a Cohiba Siglo IV. My business day has ended. Cheers.