What are the issues of look-up table based implementations? Cryptographic libraries mostly use pre-computed lookup tables to implement block ciphers. These lookup tables require large amout of memory and a series of cache miss/hit makes them vulnerable to cache timing attacks.
Are there any other disadvantages of lookup table based implementations?
The disadvantages are simply the side-channel attacks that you mention.  I can think of no other disadvantages from either a cryptographic or hardware angle.    I have a description of cache and attacks from a hardware perspective.

The advantages are pretty clear:


simplicity in implementation so that the mathematics is correct;
it's faster than a bit-slice implementation, and
it's smaller than doing the inverse mathematics for the irreducible polynomial.  


Also, in non-x86 environments, these attacks are be mitigated through a cache lock where you do not flush the cache so you cannot miss.