Case life, consistency, no need for special tools, and having something different engraved on the barrel.
I wanted a longer barrel for more velocity, but got a good deal on a Shilen Match contoured 26" blank. To clean up the muzzle end and breech face, it got chopped to a little over 25". So far, I'm perfectly happy with the results.
I'm a little foggy today (sick), but I think the cost for the job was something like $415, including the barrel, everything in the rebarrel/rechamber job, the small base die set, bluing, and a little action work. The smith even offered to blue the receiver for almost nothing (it doesn't show in the image, but it is a very obvious Ruger purple). I declined. I like the 'distinguished' aged purple look on older Ruger 77s.