I had locs for 5 years - got them precisely for the reason in the title, too!
They were about - APL, I think, at their longest - but my hair 'compacts' down a LOT, and they were very thin. And then, I know the dying and bleaching didn't help, either.
So, first I cut them (shoulder length, then chin length) to try to get some of the 'umph' back, and then decided to take them out.
Right now, I can't see myself going back to locs - knowing my hair (even in the 5000000000000 times healthier and better condition than it was before) I'd end up cutting them off and taking them out, again.
Benefits: The ultimate wash & go - I 'did' something to my hair once every 6 weeks at the max (I tightened my own roots) and other than that, I rinsed it almost every other day, washed it when I felt like it needed it, and wore a scarf to bed (more to prevent lint getting into them, and because DH would roll on them).
Cons: None, really.
I would say a 'trial' period - go for a year with braids. If you are happy with that, and can see yourself working that 'kind' of hair for a while - loc.
If it drives you crazy, and you can't wait to get them out to get into your hair..... loc'ing might not be the best idea, right now.
I also suspect that my 'loose' hair will be longer than APL in five years, too..... at least I hope so, since it's almost shoulder length in two - and I started from bald, this time, rather than the neck length hair I started my locs with.....