Thanks!

Er, Not really.

Low-voltage filaments are short and fat, in comparison to their line-voltage equivalents. The smaller filament means that the light emanates from a smaller "point" in space. Such light is exceptionally crisp and easy to direct with reflectors. It makes diamonds sparkle and shadows more pronounced. A low-voltage reflector bulb can throw a great deal of light in a very specific direction; if you want to throw a spotlight on something and really make it stand out, low-voltage is the way to go.

Low voltage bulbs also tend to be smaller, which is good if you want smaller fixtures. For example, low-voltage undercabinet lights seem to be about 1/2" thinner than similar line-voltage fixtures.

Also, since low-voltage current is less dangerous, it's acceptable to have exposed electrical contacts in places where they might be accidentally touched, which makes some specialty fixtures possible.

Low-voltage requires a transformer to step the current down, which makes the fixtures more expensive. If you want to dim low-voltage lights, you need a special, more expensive, dimmer to do it.

Line voltage filaments, on the other hand, are larger so the light tends to be more diffuse. Shadows are less pronounced. It's a better choice for general lighting, where you don't want hard shadows. The fixtures are cheaper, as are the dimmers to control them.

Line voltage wiring and fixture installation falls under the juristicition of the National Electrical Code and thus must pass inspection. Low voltage does not.

Having said the above, I've noticed that many inspectors choose to ignore low voltage lighting systems. But it is within their right to inspect it.