I don't agree to the GRE approach for a serie of reasons:
1. It is the only widely PtP protocol that allows point to multipoint using
a single connection (at least on linux hosts).
Using a tunnel interface for each peer is a pain in the proverbial
behind.
2. It allows dynamic adding or removing of tunnels via simple route
commands.
On others one needs to manage and create tunnels for each endpoint.
3. Usually IPIP is not blocked by ISPs.
Some ISP (e.g. Vodafone) charge extra for VPN connections, which include
PPtP and L2TP but not IPIP.
4. IPIP carries traffic only if there is real traffic available.
No keep alive and other connection maintainance traffic. Like dial on
demand.
Disadvantages in my opinion:
1. No native support on Windows or Mac (PPtP and L2TP is supported).
2. Not supported in P2MP on routers (And this is the biggest disadvantage).
3. No stateful connections
4. No encryption (not very relevant IMHO, since the interest for
interception/spoofing is minimal - there is no money to make here)
73s de Marius, YO2LOJ