My wife is in the process of having this done.
Upside of this procedure:
It doesn't destroy 2 teeth in the procedure (bridges destroy 2 teeth by filing them down and using them as anchors for the bridge)
It is more permanent than a bridge (bridges break and leave you with the need to fix 3 teeth/ more expense and pain later)
There is no worry with an implant. You can eat that frozen snickers bar without worrying about breaking your bridgework.
Downside of this procedure:
Even though this procedure is 15 years old, insurance still does not cover it
We are paying about $2k for this procedure. She had her old tooth extracted and is now wearing a retainer that has a partial on it. This is normal while the affected area heals and while they make the implant. The implant is (this sounds bad but I can't think of any other way to put it) screwed into the bone that supports teeth normally. It is much more long-lasting than any other procedure. I wouldn't suggest the partial/ retainer for any length of time because it is a pain because you can't really eat with it in and any prolonged period without the partial in place causes the teeth to shift, causing a multitude of other problems.