[dba-SQLServer] Updating Database Compatibility Level (with name included)

Team,

I have an SQL 2005 database that has been attached to 
SQL2008.  Everything runs fine.

An IT audit company has made the following recommendation:

"A review of the databases has highlighted that the database 
"StockData4" is SQL 90 which is the SQL 2005 compatibility level (SQL 
2008 compatibility level should be 100).  It is recommended that an 
upgrade of the database StockData4 with the correct compatibility 
level be undertaken."

 From what I have read this just involves changing the databases 
compatibility level setting.  Apart from being able to use features 
introduced in SQL2008, is there any other advantage to the 
change?  Are there any disadvantages?  Is there anything else that 
might be affected by the change that I should know now and fix?


Regards

David Emerson
Dalyn Software Ltd
Wellington, New Zealand