I wanted to add a few more things about CLOTH DIAPERS. To be fair, I have to add a couple more CONS, just so I don't seem too biased. But I am biased, of course.
•Many babies who wear cloth diapers potty train sooner! Cloth diapers do not have a chemical gel to absorb wetness, so babies can feel the wetness and will be more uncomfortable wearing a wet diaper. Many times this helps a toddler become more motivated to use the toilet, and helps him associate the wet feeling with going potty. Yeah for less time in diapers!
• Most baby clothes these days are NOT cut to fit over a cloth diaper, which is going to be bulkier than a 'sposie. Even the really nice, trim cloth diapers by necessity have to be bigger than a disposable, because they're using cloth to absorb instead of chemicals. So those tiny little cargo pants for your 3 month old probably wont fit. As your baby grows and the clothes get bigger, this will be less of a problem. In my experience, I needed something stretchy to wear on the bottom half for about the first 9 months, and then I was able to find jeans and khaki pants that fit. That's about how long it took to find pants to fit Moses, too. :)
• There are so many cool, cute, fun kinds of cloth diapers, that you may find yourself "needing" a huge stash of diapers that ends up costing as much as disposables. This is a common problem among cloth diaperers. The good news is that even if you spend as much, they're still better for your baby than disposables, and they have GREAT resale value. Seems odd, but it's true. People will pay good money for your used cloth diapers.
If I think of any more, I'll let you know.