I have the extended (covered ladder). Main reason for getting it is because of the larger annex area, which give me the option of additional sleeping quarters downstairs when my kids are bigger. The annex area on the regular versions are only large enough to use as a changing room or sitting area. It takes a while to setup the annex however, so I've never bothered setting it up on a trip.
The extended overhang does add some additional time to setup, I'd say about an extra minute to setup and maybe two to take down because there's some extra fabric to deal with. Unfortunately because of the way it's designed you always need to set it up regardless if you want it or not. I imagine in high winds the extended overhang would catch more wind, but I've used mine in moderately windy conditions without a problem.
Since the door opening is always covered, it provides more privacy inside the tent and make the entrance area darker. That can be good or bad depending on what you like. At night I either hang a lantern or hook up some LED lights to illuminate it. Since the joint is hinged you can pull that extension up against the tent so it almost disappears, which is what I do during in the daytime when if I want more ventilation or sunlight.
Pros:
Larger annex area
Covered entrance and ladder if raining
Larger shaded area under the tent for cooking or whatever. Almost acts like an awning
More privacy
Cons:
Longer setup time
Entrance way is really dark at night
Extra fabric when folded means it's a little tighter to close when you have a lot of stuff in the tent.
Might cause trouble in high winds
