Work-At-Home: Pros and Cons

I've found myself tackling a lot of work at home these days. As opposed to being in an office with co-workers, cubicles, managers, and an endless supply of coffee. I've had major caffeine withdrawals but I'm assuming one cup of coffee a day is far healthier than three. Whatever, I guess I'll learn how to deal. I've begun to notice some highs and lows to the work-at-home environment. For example...

Pro: The ability to work for long periods of time without distractions or interruptions.   
Con: No co-workers to casually interact with throughout the day. I may or may not catch myself chatting with my cat more than I care to admit.

Pro: How comfortable my couch is. And loving my desk set-up at home.
Con: Loosing all the desk space the office provide.

Pro: No rush-hour traffic.
Con: Feeling like I never leave the office and therefore, overworking.

Do you ever work from home? Do you love it, hate it, both?