Positives? (thinking... ... ... still thinking ... hmmm...

)
Negatives?
not done right, the welds can crack and the axle break apart and you go flying into a ravine or somebody else on the road...
It looks like ass
Solves no issues whatsoever that cannot be solved through other (safer) means
D35 wheel bearings are spaced narrower than say, a D44's, but in 20 years never once have I had any issue with them relating to this.
The use of cheap or "value'-orientated bearings is what usually leads to issues on these axles (that or overtightening the preload on them).
Same goes for ball joints. Use Raybestos "Professional Grade" joints and you shouldn't have any issues.