The main disadvantage of not having ballast tanks is that on the surface, you won't float that high (I assume you will be slightly positively buoyant, because requiring power to get back to the surface is crazy, and perfectly neutral buoyancy is nearly impossible to achieve). This doesn't matter for a little thing with a tender, but for anything on its own, I'd rather float a little higher. Also, you have to keep moving to keep lift up. That just doesn't make sense for a boat that you spend a lot of time stalking around with as much stealth as possible.
As for "the most dangerous thing an attack sub can do in combat is launch a torpedo", that's just not true. The majority of the missiles launched against Libya this month came from US subs (SSGN). And there are a lot of capabilities that are secret or borderline secret. Check out "Dark Waters" and "Blind Man's Bluff". Also http://www.globalsecurity.org/military/systems/ship/dds.htm