The biggest advantage is obviously the aforementioned performance. But another big selling point is that, since Thunderbolt supports data, video, audio, and power, you can use a single Thunderbolt port--and thus a single cable--to connect many of your peripherals. Or at least you'll be able to once you've got enough Thunderbolt devices and adapters.

Not really, although the idea is similar to that of the (ADC). While Thunderbolt does carry video, audio, data, and power--thus reducing the number of cables sticking out of your computer--it doesn't provide enough power to run a large display. (ADC could provide up to 100 Watts of power, along with video, audio, and USB signals.) On the other hand, an ADC connection required a specialized--and expensive--video card, whereas Thunderbolt uses the Mini DisplayPort standard.

Conveniently enough, Thunderbolt uses a connector that fits the Mini DisplayPort port on all recent Macs. In fact, the newest MacBook models include only a Thunderbolt port--there's no separate Mini DisplayPort port.