Here's a tutorial I just made of how to use Colormunki with Argyll. That's a cheap way of "upgrading" the instrument, as the instrument is much more capable than the bundled software makes it.
http://www.ludd.ltu.se/~torger/photography/argyll-print.htmlThe main weaknesses of the Colormunki instrument seems to be that 1) it nees larger patches than i1Pro so you need to waste more ink/paper for the same patch count 2) it's more tedious to scan as you have no ruler and it's better to scan a bit slower as the instrument is a bit more noisy and gain from averaging and 3) it's UV cut so you cannot do OBA correction
The value of OBA correction can be debated though (as you lock down your print for a specific UV content in the viewing light and viewing light may not be that constant in real conditions), and if you use OBA-free paper like Hahnemühle Baryta for example it makes no difference at all of course.
If you make lots of profiling with many different papers I think it can be worthwhile to upgrade to get a more efficient workflow. If you're not interested in OBA correction and only profile occasionally I think "upgrading" by using Argyll (which is free) is a good choice. Although I haven't been able to make an A/B comparison between the instruments I have no reason to believe that a Colormunki+Argyll profile would be noticeably less accurate than a profile made with i1Pro and bundled software, unless we talk about OBA correction which the Colormunki can't do.
From tests I've made using Argyll instead of the bundled software will make measurably more accurate profiles, even if you just scan a single A4 sheet, but I think four sheets (840 patches) is about the ideal to get "as good as it gets" without overkill when using a modern inkjet. The bundled software may have say DE2000 3.7 as max and 1.2 as average, while a 840 patch argyll profile will have say 1.8 max and 0.5 average.
I'm keeping my Colormunki.