Performance improved when GCC switched from a generated to a handwritten parser. Additional techniques like using an operator precedence table/"precedence climbing" as described in the article can reduce the amount of code, make extending it easier, and you still don't have to learn the specific language of a parser generator nor attempt to debug what it's generated.

IMHO parser generators and parsing algorithms in general seem to have gotten a bit to heavy on the academic theory side of things while ignoring practical considerations, which is why recursive descent + precedence climbing became so popular. Big production-quality compilers use it, little toy ones use it, I don't see any drawbacks other than maybe a misguided attempt at academic purity or dogmatism.