We had Conways for years - Campa, then Challenger, then Cruiser, then Crusader - with oven, water heater, washroom and toilet.
Advantages - roomy, easy to tow and store, fairly quick to put up. Awnings take a similar time to caravans, so there is not much difference. We saw minimal difference in fuel economy when towing.
Disadvantages - you feel the temperature drop the moment that the fan heater thermostat cuts out - there is no effective heat retention. We often got "cold" corners, where the heat couldn't penetrate. It was always a pain setting down when the canvas was wet - even the morning dew had to be dried out properly. It was sometimes frustrating not being able to have stuff in the fridge when towing - you could put stuff in there, but with the dark PVC cover and no air circulation inside when towing, the temperature just didn't stay down.
It looks like our disadvantages outweigh the advantages, but please don't be put off. We have a caravan now because we want one, but we had 15 very happy years - in all weathers - in trailer tents and folding campers.