Other types have other problems associated with them.
Partnerships have legal ramifications on asset protection. Also every time the syndicate changes you will have to change the names on all bills, owners papers etc.
Incorporated clubs have audit requirements depending on income etc. (EDIT: I also think that the members of a club are liable for all damages etc. caused by club members, but don't quote me on this).
P/L company I feel is the best way. But I am not a legal professional, just an accountant.
Companies allow you to keep the same owner on all documents (ie. the company) and then when people come and go you can just change the shareholder information (all internal and with asic).
Also asset protection as the company is a seperate entity for assets and debt and unless certain situations exist, the directors can't be attacked seperately.
Great doc Rocketdriver. I hope to use it in the future.
OUt of interest, RAAus allows an aircraft to be registered by a company doesn't it?
Cheers,
Shags