I vape myself, I have the ego-T with a filter called the "bomba" (don't ask, some Israeli brand filter. but really good though). I actually much prefer it to smoking regular cigarettes, if I even try to hit a real smoke I feel like I'm going to pass out. I'd say financially, it is cheaper than real cigarettes. If I spent 4-5 euro a pack a day vs. a container of nicotine for my ego-T a week for about the same price or a bit more, its way more beneficial. Health wise, I used to vape right before going on my routine jogging run, so far it hasn't affected me at all.
A lot of people don't like it, I can understand a lot of concerns - but imho, you should at least try a good brand first before giving up on the e-cigarette thing. There are lots of shit brands out there that make really cheap, disgusting vapes and you have to do a little digging before you find something that really works well.
I've seen quite a bit of bad press on it though, I think its mainly the tobacco companies lobbying for people to get scared of vaping so they won't lose customers. I've been vaping for almost a year and a half, no health problems - only good things. The only thing I'd be concerned about is all the cheap rip off brands.
The flavor I'm vaping now is called "cigarcherry" - not too fruity and sweet, not too "cigarette"y - just right.