Let us see how much of a furor that will cause :-)
The reasons that I don't like distributed source control systems have nothing to do with technical reasons, and everything to do with how they are used and promoted.
The main reason that I don't like them is that they encourage isolated work. I don't want anyone in my project to just go off and work on their own for a few weeks, then come back with a huge changeset that now needs to be merged. The way DVCS are promoted, this is a core scenarios, "no one have to see your mistakes".
I completely disagree. I want to see everyone's mistake, and I want them to see mine. There is little to learn from successes, and much to learn from failures. Far worse, I want to be able to peak into other people work, so I can give my input on it, even if it is just "wow, nice", or "yuck, sucks!"
The main advantage of DVCS is speed, trying to browse the repository when you have the entire thing on your HD is lightning fast, compared to doing the same with a remote repository. I tend to use SVK now, but I use it strictly as a local cache, and nothing more.
And that is why I don't like DVCS, I don't want people to work in isolation.