I have has a TransEar for 3 years now. I would not go without it. As far as pros go: it's easy to use, just pop it into my ear in the morning; the newest version that I now have has much better voice discrimination, it's fairly easy to understand conversation on the deaf side; the batteries last 1-2 weeks before needing to be changed; it comes with the dry 'n store box to help keep the TransEar clean and dry; I have mild, mild tinninitus and I really don't notice it all when I have the TransEar in; I also "feel" more balanced when I'm wearing it, meaning my head doesn't feel "lopsided" ( I know that is all purely psychological though); I am able to wear it all the time while I'm awake, don't even notice it (I've gone to bed with it in and only noticed it when I laid on that side). The cons for me would be the times that the wire has broken. If it came with an extra wire it would be perfect. I have noticed that the wires tend to be stronger on the newer version. Dealing with TransEar is excellent, too.
All in all, from what I've read the sound you get from the TransEar seems to be similar to the BAHA although I can't say for sure because I've never tried the BAHA. You do need to take it off when you are in water. Although I got caught in an unexpected rain storm and then put it in the Dry and Store and it was fine. It also does not work well in noisy environments. I don't know of anything that does.
Hope this helps. If you have any other specific questions, please ask and I'll do my best to answer them.
Jean