Benefits over Razor are
- Can be hosted outside ASP.NET
- Can unit test views (no need of controller or web-server)
- Better intellesense support on VS.NET
- Everything is encoded by default
- Executing it from a console app is possible
- Much cleaner
- There’s no need to specify the language, because it’s included in the extension
- No need to explicitly specify a master page
- No external dependencies as it has been shipped with MVC 3 (System.Web.Mvc.dll)
- and lot more
Below are the urls you could enjoy reading over the major 4 view engines, it’s awesome. Just including here as it would help some one over there.