What are the benefits and costs of pipe smoking?

No benefits: There are no health benefits to any type of smoking. The cost could be your health.

Costs.: Benefits: um... The "sherlock holmes look?" costs: cost of tobacco and pipe (minimal;) cost of ill health for your lips, cheeks and gums (huge); cost of oral cancer risk (potentially minimal/potentially enormous). Think about an alternative.

None, your life: Are you asking what are the benefits of pipe smoking as compared to cigarettes or chewing tobacco, or what? Pipe smoking can lead to cancer and death and a host of other medical problems. I have personally seen too many patients who have died from oral cancers, lost sections of their jaws, suffer from lung diseases, and cannot swallow or breathe normally. Why take that chance?