There are many advantages to the serpentine belt system:
1) All belt-driven components are rigidly mounted, which minimizes extra parts, maximizes alignment, and reduces chances of loose fasteners after belt maintenance.
2) One belt replaces several, making initial assembly and maintenance easier, not to mention lowering overall cost.
3) Belt is auto-tensioned (HUGE advantage, as all belts stretch initially).
As mentioned in another serpentine belt thread that is now active, a quality belt is very important as well - a lot of the aftermarket ones are crap, plain and simple. The retail selection for quality auto parts these days makes me want to cry. I tend to order almost all of my parts online these days, in order to get the best quality parts that I can find.
I worked as an engineer at Kenworth back in the 1990s when the heavy trucks switched over from V-belts to serpentine. We kept close track of warranty failures of course, and found that many alternator failures in the V-belt system happened shortly after the first belt change. Switching to the serpentine setup meant that the alternator was no longer swivel-mounted, so it never had to be messed with when a belt was changed. Alternator failures dropped significantly after the changeover to the serpentine system.