I ferment in kegs becuase they fit in freezer much better than carboys do. They're easier to load and unload also. The only down side is they hold just under 5.5 gallons. THe weld line about in inch and a half down from the top (on the inside of the keg) is just under five gallons. Thats where I fill to. That leaves me less than a half gallon of head space for krausen which is a little less than ideal but not horribly worse than a 5 gallon carboy. I get blow off but this hasn't effect anything as far as I have noticed. No stuck fermentations or higher than normal final gravities. I don't use fermcaps but if you have them then I see no reason not to use them.
I went from using a 6.5 gallon carboy that I was used to putting 5.5 gallons into so that I got a full 5 gallons at bottling even on dry hopped beers. It was an adjustment only getting 4.5 gallons out and I felt like I was getting ripped off at first.
I brew a lot though so I realized that getting a few bottles less out of each batch isn't a huge deal to me. I just like to brew a lot of beers and see how they turn out, let others try them, drink a few here and there, send them into comps, etc.
If you're a "pipeline" stock kind of guy then the half gallon might be more crucial to you. Just depends how you look at it.
No issues with sealing or anything like that to worry about with cornies. In my experience they have worked just as well as a carboy with blowoff/airlock. Just use a vinyl tube and hose clamp for blow off.