Studs vs. Chains

As I wandered over to Slagle Hall for a meeting today, I noticed a co-worker had chains on his back tire. Upon further questioning he said he got the idea HERE. Have any of you ever tried chains? It sure looks a lot cheaper than studs. What are some of the plus/minus of chains vs studs?

Regardless of the results, I'd like to give props to Randy for riding this winter. He's been pretty steady on the commuting to work front as of late!