And typically longer compile times.
Most variables are split into ("phi") variants, for each assignment, and many more costly optimization steps are now possible.
You don't need to add every optimization known to man to a compiler, so you can sometimes keep a few of the important ones and then skip every other optimization. A priori, I'd guess SSA would speed up the compiler, which means you end up having a better budget for the more expensive optimizations.
[1] https://github.com/golang/go/blob/master/src/cmd/compile/int...
[2] http://pp.info.uni-karlsruhe.de/uploads/publikationen/braun1...
SSA is a conversion of the program into a representation of its data flow. I've used it in multiple compilers and found it to be a big win for easing other analyses (e.g., induction variable recognition become trivial) and reducing bugs due to the update problem.