The CONs of FF:
1) It costs more. Not only now, it'll always cost more, because it
costs more to make.
Yes it costs more to make a full frame. It also costs more to make a 1.5x sensor then, say, a 1.7x sensor. So why are 1.7x sensors not made by Sony, Pentax, Nikon or Canon? Actually, the question should be: would you buy a 1.7x crop camera because it is cheaper than your A700? Most people wouldn't do it. In the future, 1.5x crop cameras may be looked at the same way than 1.7x cameras are today: i.e. nobody will bother to make them.
So actually the pixel density on an FF sensor is lower. Which means
that interpolation (i.e. the process that approximates RGB value for
every pixel from combining several channels measurement) is less
precise and hence is the actual colour, detail and sharpness.
Actually color accuracy is dependent on a lot of factors, one of which is the strength of the signal received by the sensor and another factor is the dynamic range. Smaller pixels receive a weaker signal, with less dynamic range and more noise. That means the camera has less space to work with to represent all of the colors. Color accuracy is therefore diminished, not enhanced, when you have greater pixel density.
Another thing I actually dislike about FF is that it takes the
tele-range back to the stone age, making it impossible to get good
shots with "portable" glass. And given that a 100-450mm zoom costs
much more than a 70-300, that's a big problem. Wide angle, on the
other hand, does not cost that much even if digital crop is taken
into consideration and is generally less useful. So "the blessing of
digital crop" is actually an important issue.
APS-C is really involuntary cropping. If you want to crop your image to simulate APS-C it is easy enough to do. But you cannot process the image to simulate a wider angle. There is no such thing as reverse cropping.
Last, but not least - the lame belief that FF is "more
professional"... I think it's some sort of a psychological block. Why
35mm is "professional"?
It is more "professional" because professionals demand better image quality. A professional camera is defined as a camera that is better than most cameras. Full Frame cameras fit that description.
Why is it "the best format"?
35mm is not the best format for every purpose. There are other formats that excel. For example, James Bond would not want to carry a 35mm camera to take pictures. He would carry the smallest camera he can find. OTOH, Ansel Adams would not use a 35mm camera either because the prints he made demanded a bigger negative.
Isn't it because
back some 90 years ago it turned out to be (after some trials and
failures) the best format for reasonably portable cameras? So if
APS-C is becoming something of the same sort for DSLRs why is it
wrong?
APS-C is "wrong" because full frame is better.
If APS-C has given us a chance to take longer shots, have a
larger variety of focal lengths in our backpack with less investment
and granted us SSS and high-ISO noise reduction - why is it all to be
tossed away in favor of a presumably better (only because it's
larger) format?
Sony is not "tossing away" SSS. The full frame Sony will have SSS.