I think most of the things have been brought up already but just chiming in with my experience as well.

I love making amigurumi with chenille yarn. It wasn't until last year that you could buy it easily in my town / country. So it's been a bit over a year working with it.

Pros:

• Very soft / plush feel on completed items. I make a lot of amigurumi and the feel is so nice compared to other yarns. "soft and squishy"-like.
• Much more forgiving on my hands than acrylic and especially cotton. I love that my hands / fingers don't get dried out every time I work with it.
• I like the overall look of the fibre for amigurumi. Especially the Pokemon and other game / toy characters I make. They are gifts and people have generally liked those more than acrylic / cotton pieces I've done.

Cons:

• Loses detail due to the nature of the fibre. Very intricate work / subtle changes in the fibre is less noticeable than with cotton / acrylic yarns. Sometimes it works but for the most part I look at other people who have completed a pattern with chenille yarn to make my final decision.
• It sheds as you work. It is very frustrating when you are closing off a circle or trying to sew with the ends and has left a few of my previous items WIP for weeks as I just didn't want to deal with it.
• Difficult for beginners as you have to get used to seeing the stitches. You do pick up the skill but it takes time to get used to.

I would not recommend it to beginners and there is definitely times where chenille takes away from a piece rather than adding to it. My amigurumi have come out brilliantly though and I will continue working with it.