Hi - i felt obligated to post a response since i am part of a Combined-degree (Bachelor's and MD) program. I disagree with many of the disadvantages that others have posted. First of all, yes, you have to maintain a certain GPA and perhaps get a certain minimum MCAT score, but fulfilling these two very straightforward obligations is a lot easier than the juggling act most pre-meds have to perform to have a stellar resume/application. and besides, these minimum GPA and MCAT scores are usually so low that the people who get into the programs don't even have to sweat it!!
Secondly, many (if not most) programs give you lots of room for electives and even encourage you to try new things. having a (pretty much) guaranteed seat in medicine made me more willing to take new classes that i might not get the best grade in. and you can major in a science OR non-science subject, in many programs.
Third, in my opinion, students in BS-MD or BA-MD programs work a LOT LESS than regular pre-medders. We don't have the pressure of getting stellar grades, a top MCAT score, doing hundreds of hours at the lab or volunteering. We can do these things, but if we do, its only because we want to - not because we need it for a resume.
Finally - in most programs i know, students can "apply out" to other med schools their senior year of undergrad if they want (although its definitely not encouraged) and they can switch their minds completely and go to law school or business or whatever. they can't make you go to their med school, at least not where i go. i know people in my program who applied to harvard, yale etc
and others who dropped out so they could joing law school, social work etc.
so my advice is to look at each program individually and go for it cuz these programs can save you a LOT of stress.