Not really.. If you are smart you will do early acceptance and put regular apps in at other schools just put early for top choices
Applying ED is not for everyone. It is for strong applicants who know exactly where they want to go to med school. You can only apply to one school and if accepted you are done, early, and cheaply. You dont have the stress of waiting for an interview phone call during the late Sep-March Interview season. Typically ED applicants must have better than average MCAT scores and GPA to even be considered for ED.
In the ED process, AMCAS gives them priority in verification to meet the August 1 deadline. Schools normally will let an applicant know whether they are going to be interviewed by late August. If you are not going to be interviewed you can immediately change your application type to Regular MD, be verified, and only have to complete the secondary process to be in the pool for other interviews. This scenario puts you available for interview by very early October --- basically at the very beginning of the 24 week interview season --- no time lost, no disadvantage.
If you are selected for an interview, that interview usually occurs in early Sep with a yes/no response within about a week or 10 days. Again if accepted you can plan the next year. If not accepted, you immediately change your app type to Reg MD, complete secondaries, and are in the pool available for interview by the end of Oct at the latest. Again you are ready for an interview in week 5 of a 24 week process. Since ED applicants have higher stats and usually strong EC's, there is no problem getting an interview.
If you do your homework and find the program for you and it has an ED program, and your are eligible, why not ED? If you are not sure where you want to go and want to shop around, ED is not for you.
Finally, the aspect of comparing financial aid with multiple acceptances is not a big factor in that again, if you did your homework, you know the costs, you know the awards. Few schools will bargain financial aid packages because they dont have the money, they do have plenty of applicants. In rare instances there will be a very limited bidding war for an applicant between schools --- very rare, and normally private institutions who may have some latitude. The MSAR is a good place to review costs as well as individual med program web sites.
In most cases I have experienced a nearly 90% acceptance rate of ED applicants who apply to the program that I am familiar with. And in most cases when that other 10% reapplied that same year via the Reg Md, the too got in later in the year. It is a good way to let a program know that you are ready to dedicate to them.
So the downside? I guess it could be getting an interview in the regular process in about the 5th week rather than the first if you are not accepted ED. The only other downside is......um........hmmm......