I just finished reading about the disadvantages of rod rigging in a book by Lin and Larry Pardey last night. One of the problems is rod rigging provides no warning prior to failure--it just breaks. In contrast, wire rigging usually shows signs of failure with rust, frayed wires protruding near connections, excessive stretching. Additionally, wire rigging is far more forgiving in an overload situation because of the stretch. Lin and Larry talked about several reported failures on rod-rigged, high-dollar racing boats, which in a couple instances ended up with demasting.
Emergency replacement, as stated above, is not a problem with wire. And while rods could be stowed laterally along life-lines, rigging connections while at sea could pose a problem--even with the proper tools. Installation could be a bit hairy as well.
Good luck on whatever you decide upon,