well, a wet/dry provides superior biological filtration because you can put as much/whatever type of bio media that you want in it.
It also provides better gas exchange because of the water "splashing" over said bio media.
You can also hide heaters, UV sterilizers, hold extra media (to cycle other tanks), isolate fish, add to you total system capacity which results in more stability, and have the convenience of looking at you prefilter at a glance to see if it need attention.
Additionally, the only maintanance involved is replacing/cleaning a prefilter periodically which takes only seconds because you can do it while the filter is running. You also have the luxory of determining your own flow rate because you can chose any pump you want. If your pump delivers more flow than you desire you can shunt the excess back into the sump or simply choke the output. You also have the ability to run multiple pumps for total filtration redundancy.
While I'm at it, I might as well mention that it's much easier to implement an automated water change system (search "drip system") with the use of a wet/dry (sump) filter.
All of this can easily be built in your house for the fraction of the cost of a high end canister.
In the end it does the same thing as a canister with the added benefits mentioned above