I bough a watermaster this past spring and will never go back to my pontoons again. The watermaster is lighter, packs up smaller (can fit 2 in the trunk of a car so I save money on gas by not having to take my truck), is more stable, faster, and more manouverable than either of my pontoon boats. The weight/carrying capacity is about 4 times greater than a pontoon boat so I dont bottom out in shallow water, and I can also fit my dog safely on the back which is a big plus. I think once you try one you will be hooked. I find them superior to my pontoon boats in every way.
They are very expensive (and overpriced IMO) though so that is the biggest consideration. If you have the money get a watermaster - you wont regret it. If not, a pontoon will get the job done too.