Photography and the Pros and Cons of TFCD, TFP

For those of you who may not know what TFCD and TFP means, it is the photographer and subject sharing their Time For a CD of the images, or for some Prints, although the print option seems to be less common now with digital having taken over from film.  No money changes hands.   What are some of the possible pros and cons of doing this and why might the photographer agree to this?  Is it worth doing, or is the old saying true, "anything free is worth what you pay for it?"

As for the second question, that is really up to the subject and the photographer.  And this comes down to their reasons for doing this.

As for the cons:
1.  Because no money changes hands, it is very easy for someone to not show up, or show up late. They lose nothing by doing this, except perhaps their reputation.  Professionals always show up, and on time.  Perhaps it would be a good idea to treat this as a regular photo session and get a deposit, which would be refunded if and only if the subject shows up on time.
2.  Either or both may not try as hard as they would if they were getting paid.  Again, being professional means you will give it your best.  Many years ago I drove 20 miles to do a TFP with a model who was recommended to me.  She had visitors coming over, was smoking funny stuff, constant interruptions, and the results were no good.
3.  I have heard of some models trading their time, only to never receive their images or prints.
4.  TFCD and TFP is somewhat limited, because of the above reasons, and also because the photographer will usually only do this if the other person has a look or idea that will add to their portfolio of samples of their work.

And for the pros:
1.  If you are both professional, you can both get some great images without having to pay.
2.  If you get great images and are both professional, you'll be likely to tell others and get paying work.
3.  You should both have a great time at the session.

I used to skate at Venice Beach all the time (now I play paddle tennis instead) and saw a beautiful you lady I wanted to do TFP photography with (she was also skating all the time out there), so asked her, and she said she wasn't interested.  But as time went by, we saw each other often at Venice Beach skating, and then we discovered we lived just a few apartments from each other on the same street, so she finally agreed.  She was a professional model and actress, and we got lots of great images.  Here are a few.

All the sessions were enjoyable - some were shot at UCLA Sculpture Garden, some at Venice Beach, and some (with the bodybuilder, who lived next door to her, and wasn't originally planned) were taken just outside her apartment.

Will I still do TFCD?  With the right person and for the right images, and with a model release.