John Payne of IX3 Sports cuts through all of that and has a thorough article exploring the pros and cons in a very measured way:
"... The triathlon community is one that embraces technology and radical shifts in technology. That one of the defining characteristics of the species! The swimming community, while embracing technological change in the training world, has not been as quick historically to incorporate it in the competitive arena.
The pace at which the new suit technology has changed the playing field has been astonishing, particularly for the rule makers. Hopefully they can act quickly, but not in haste. ..."[Link]