What are the pros of installing laminate vs hardwood?

Laminates have become a popular alternative to hardwood in many cases.  It has a high density core and a more scratch resistant surface than many hardwood making it ideal for higher traffic areas.  It has endless possibilities for textures and patterns so many exotic or expensive woods can be replicated for a fraction of the cost of the real wood.  Easily cleaned with simple sweeping, vacuuming and the occasional damp mopping, makes it ideal for active families.  It has become a somewhat simple do it yourself product and is being used extensively throughout the home.  Many have commercial ratings.  Make sure to use a quality underlay, moisture barrier when required and adhere to the strict installation instructions to obtain the perfect job.