My biggest complaint with the 4 strobe setup was not in actual use but rather in converting back and forth between macro and wide angle. It takes more time but really isn't a big deal.
You might think that four strobes takes more time to adjust because of all the fussy knobs, but I slaved two strobes off the other two using fiber. I only adjusted two strobes like most everyone else, and when I wanted individual adjustment I had it. Another big advantage of the fiber approach was that I never had to change a sync cord.
If you go by the backscatter tests, four Z240s offer the same bouyancy as two DS125s and I don't hear any complaints about that. On the contrary, more strobes means the opportunity for more bouyant strobe arms and bouyancy was the least of my worries. I ran 2 ULCS 10" fatties and 2 Inon strobe arm floats so I had the benefit of 20-25 ounces of lift to help offset my rig. My strobe setup was positive! BTW, I used YS adapters for my Inons rather than ball mounts. The overall combination is lighter that way.
Regarding color temps, the consensus is that lower is better for wide angle and the Inons are somewhat high. That *can* be corrected by an 81C on the Inon (at the cost of a 1/3 stop or so) but since I use complementary filters the strobe temps are not a disadvantage for me. I get bluer water a different way, and Inon strobes are quite easy to filter.
When shooting with four strobes, you have to decide how you will array them. I mostly did so in a line although I'm of the opinion now that a square might be better. I did try using the square configuration some but macro took over later in the trip. When shooting reef scenics with a fisheye, you get so close that shadows start to be difficult. Extra strobes allows for great flexibility in placement but at a cost of a great deal of time to set up. I think it's better to back off a bit and shoot a bit less wide sometimes. The 10-17 is great for offering that option.
On the trip we had numerous opportunities to shoot schooling jacks and most of us were using 180 fisheyes to do so. It's a great advantage in that situation, since the sunball is always in your shot, to have as much firepower as you can get and four Inons is more than two DS125s (that most were shooting) or two DS200s (that one was shooting). For me, anything shot less than f/16 was a wasted shot and I never shot anything less than 4x full power. I didn't get any blown out jacks either.
As far as advantages of more Inons over two DS200s, that's pretty easy. First, Inons are far more suitable for macro use so you don't need to travel with different strobes. Second, 3 or 4 Inons means you inherently have a backup strobe for macro and, in my case, have a third on your BC for flexible macro lighting options. Inons use small, light, cheap AAs so travel is far better than with custom chargers and packs. Finally, Inons enable you to completely rid yourself of sync cords, thus improving reliability, bouyancy, and travel weight.
As for the future, I believe I may try a 3 Inon configuration in a triangle rather than sticking with 4. Doing so is more bouyant (because of the strobe arm details), easier to configure between dives, and simpler to shoot underwater. I think it will be wide and powerful enough for most situations.
As some who know me better are aware, a couple of goals I had for my last trip were to convince myself of the 10-17 and the suitability of 3-4 Inons over the DS200s. With travel weight at even more a premium now, a dedicated wide angle strobe must really prove itself worthy of the weight premium and I just didn't see the Inon solution as lacking in performance. As for the 10-17, I was really impressed. Alex is right, full framers are really at a disadvantage not having the 10-17. It still doesn't discourage me from FF ;-)
With three Z240s, I get good macro, a drop light for backlighting, functional wide angle, and a backup should one strobe fail. I get that for a travel weight of 7-8 pounds (including two sets of batteries and two chargers) PLUS I get synergy with my modeling light since it also uses AA batteries. With two DS200s, the strobes alone are 8 pounds not including extra batteries or chargers and you get no redundant strobe nor compact solution for macro. I think that advantage is clear. Nevertheless, I think the DS200 and YS250 are appealing strobes just as I loved my Hartenburger 625s. I just didn't like the travel burden!