We've found that they work really well in keeping RDs, RAs and Senior Staff in touch, in emergency situations and even in the day to day stuff too. The only draw back is that you pay for the two-way radio calls. It's not as much as a regular cell phone charge, but it's not free like a normal walkie-talkie. We switched to cell phones last year from radios. There were many benefits and few, if any, drawbacks.
Phones keep their charges longer.
They get better reception. If they break, they are under repair contract with the University. It just really seems to work much better for us. We use the cell phone here for emergency communication, the fire phone rings to the mobile cell phone first. Transporting people to the hospital would lie under the offer of the RA if serious.