if by pergo you you mean laminate (aka snap together) flooring, I would skip it as an option.
I have installed both hardwood and laminate as a DIYer. When it comes to home improvement, either save up and do it right or don't bother.
As for the benefits-location of the room in relationship with the rest of the house plays a factor in it too. I plan on pulling out the carpet in my 'front' room due to the very high traffic pattern but the living room will still have carpet for that lounging need.