So I use P202. I am considering taking the plunge and moving to CPV Lab. I have heard a lot of good and bad things about it and my main concern is versatility. P202 is reliable and extremely flexible. What advantages/disadvantages does CPV Lab pose?
Not sure about cpvlabs, But i do hear good things. Mainly for cpv but surely can be used for other things.
I've left p202 and plunged into Bevomedia as my main tracker. Tracks everything i need and able to scale from there.
so many more features.
P202 for quick setups. CPVLab for advanced campaigns.
Definitely move to cpv lab. Its much better than prosper in every way. Faster redirects, and I find it faster to set up campaigns. I'm definitely glad I bought it, I just deleted Prosper because I hated it so much comparatively.
CPVLab is superior to prosper in probably every aspect - everybody preferring prosper please show us where it can outperform CPVLab except the price 
Changed to CPVLabs today because how irritated i got with prosper missing every conversion and A LOT of clicks and click trroughs!
Looking forward to be able to track properly so I actually can see what's converting and what's not...
I just fumbled in the dark with prosper. I might been doing something wrong but I looked the setting over several times and also re did some campaigns but nothing happend. It has worked well before but now something just got very weird.
So now I got beyond hosting (cpvlab optimized) and CPVlab. So hopefully everything will get faster too! 
Can't say anything about CPVlabs since I haven't tried it yet, but considering most of the big guys use it, it CAN'T be crap...and it most certainly can't be worse than how MY prosper was working...
Although I know a lot of guys using prosper with success!
But I haven't read anything from someone that tried both saying prosper is better...
If you are low on cash go with CPVlab imho but if you are pushing volume try to get developer to create something custom.
Johnny
P202 can do wonders if you can get someone to mod it for you.

@fakeid : you use p202 to track clickbank cost ?
CPVLab all the way...always a new headache w/202
I use both, I don't like the fact that in cpvlab I can't set it to always goto the correct sponsor url.
I used both and prefer CPV Labs... So much more quicker to setup campaigns as well.
CPVlabs all day everyday now... Was a 202 user for a long long time but had a cpvlabs license sitting there for half a year decided to use it after a friends recommendation.
Best things about it:
1. Offer rotation/split testing is a piece of cake and its so clear
2. ^ same with landing pages
3. Preset parameters for certain sources
And the biggest one? My roi went up 5-10% on almost all campaigns just by switching, apparently P202 database can fill up and lag ya out, cpvlabs was like lightning fast loading times
Just my 0.0205412 US cents
Yup, another vote for CPVLab, ... the Aventador of tracking (and not just for CPV, think PPC, Email etc.)
The ONLY thing missing is an iPhone / Android campaign monitor / alert system. They've been talking about something for OVER A YEAR ...... and still waiting!
When they bring that out, .... I'll renew my support subscription 
CPVLab 100% - I stick to it and I love it.