EPDM rubber has a longer warranty (20 to 40 years depended on the manufacturer). The pro stops there. It is more prone to punctures than Modified Bitumen which is one of its biggest cons. It's difficult at times to find the breaks or holes in EPDM as well. Flashing details are more involved than with Modified Bitumen Roofing which is compatible with rubberized asphalt flashing cement. The flashing details are time consuming and costly for EPDM rubber and run the price up for this type of roof.
Modified Bitumen has a 10 to 12 year warranty. Granular surface models need no roof coating. Available in several colors. Much more puncture resistant than EPDM. Modified Bitumen roofs typically far outlast their manufacturer warranty. Modified is also more resistant to foot traffic. Also available in hot asphalt mop application, torch application, self adhering application, and cold adhesive application. Multiple layer applications by certifed factory installers are often available with no dollar limit labor & material warranties you can buy. Most homeowners shouldn't bother with these expensive warranties for either EPDM or Modified Bitumen.
TPO and PVC roofings are also available. TPO (white color) has been growing in popularity in some areas.
In summary, as a roofing contractor for many years, give me modified bitumen over EPDM or TPO any day.