You can set up 26/36/48 and 22/32/44 to be essentially identical. I
have one bike set up with 22/32/44, 12-27 9spd cassette, more with
26/36/48 and Sheldon's Century Special 13-30 (remove the 12 from the
12-27, add a 30 in back).
Biggest disadvantages to the microdrive setup are faster wear
(everything carries a greater load and wears more quickly when the rings
and sprockets have fewer teeth) and the cranksets available in
microdrive bolt circle diameters. You have two basic choices I'm aware
of for microdrive: MTB cranks (huge Q factors, grotty appearance) or TA
Carmina. The options in 110/74 are limited as well (Sugino XD, TA
Carmina or NOS discontinued models) but at least the Q factors are more
reasonable and they're less ugly.
One other thing: the 22/32/44 occasionally experiences chain suck on the
44/32 downshift that jams the crank right up. I've never seen that on
anything else.