Double bass is more of a logistic problem because you need to lug around 2 bass drums, you need 2 sets of kick mics (and that's an extra track in the mixing board), you need to tune them as similar as possible (except when it's not same in size or if you want both drums not to sound the same), and it takes a good amount of floor space.
I haven't tried playing a double bass kit yet, but I would love to if I have the chance. Mas solid nga daw ang feel.
I have an old Modern Drummer magazine which discussed this topic - double bass vs. double pedal. I can't remember which issue. If I could find that article, I'll try to post some excerpts of opinions from different drummers like Mike Portnoy, Virgil Donati, Simon Phillips, etc.
Personally, I prefer double pedals. It's convenient, and it's what I'm already used to. And with today's technology and design improvements, double pedals are much better nowadays.