I've only been a programmer for about two years now and started my first one-man project a few months back where all logic is done in Lua, and while there was some time wasted learning the language at first the flexibility has really started to make up for it recently. It's just never very cumbersome to add new features. I have to come up with some good design, just as I would have with C++, sure. But once I have, implementing it is such a breeze that I always cringe when I have to open up Visual Studio to expose more engine functionality.

Though I do sometime miss getting the errors at compile-time instead of when the code is run.

1: If you dont use scripting you have to recompile your whole project if you make a change to you code.
I dont know what IDE these people use but when i make a changes to my code only the classes that has changes in them gets recompiled. After i click compile i get a new JAR (i use java) thats ready to be uploaded to my website 1 second later.

C++ projects can take hours for even partial rebuilds if you touch the wrong files, if they're big enough, thanks to the horror that is header files.

2: To make a change to a game entity you just edit its script. To add a new entity you just create a new script.
To make a change to a game entity i just edit a class. To add a new entity i just create a new class. Whats the difference?[/quote]
Scripting can be set up to allow scripts to be modified/added at runtime. This is sometimes useful (e.g. for seeing the effects of tweaking things immediately and intuitively in realtime)

4: Your moddelers can do lots of cool stuff!
I dont want my moddelers to do lots of cool stuff.[/quote]
Guess you won't get cool stuff, then.

If you're working solo/near solo and not using C++, scripting probably doesn't help you all that much. Another advantage of scripting, however: Your mission/level/etc scripters can't break the build