Personally, I intend to get just tattoos.

Here is my understanding of pros/cons:

Getting nothing done:
Pros - no surgery, no tattoo, it won't fade, flatten or otherwise start to look less than perfect.
Cons - using the locker room at the gym kinda sucks. Not saying I'm a total nudie all the time, but for awhile I was really self-conscious about people seeing my foobs. I'm more comfortable with it now... but I feel like if I got my tattoos, I wouldn't care at all.

Tattoos:
Pros - no surgery! And since my foobs are numb, no pain for the tattoo either! Plus, 3D tatooing means they LOOK really real. Oh... and you won't have permenant "headlights".
Cons - There is always the risk of getting a bad tattoo. Do your research and ask to see lots of pictures. You won't have any projection (actual nipple) and that is something that some women want. Also, they tend to fade, so you will need to get them touched up regularly.

Surgery:
Pros - you end up with a nipple. Well... it's not REALLY a nipple, but it should look a heck of a lot like one. Which, honestly might go a long way towards making you feel whole again.
Cons - I hear they tend to flatten. If you had a BMX, one side might flatten more than the other, so they could look uneven. You also have to get a tattoo, so surgery AND a tattoo. And of course, the permenant tittie hard on thing (yes, I'm breaking out all my Jr High slang from the old days).

If you want to "try some on" you can get fake nipple tattoos. http://temptats.net/nipples.html

That way you can see if you like them with your scars being a little higher up and all that. Plus, they come in all sizes and colors.

Good luck as you make this decision.

Nipple recon makes it look like a real breast. I had a severe infection after my nipple recon but after 6 weeks on an antibiotic I was fine and I look like I have breast before I looked like a manequin

Sorry you didn't like it.

I had nipple reconstruction and really wished I hadn't.

I had the nipple reconstruction and tattoos - and even with a second attempt at tattooing, it didn't really take. The nipple reconstruction was pretty simple and painless, and 2 1/2 years later, is very minimal. The nipples are definitely not where they "should" be and my tattoos are so pale they are nearly invisible. Overall, the reconstruction looks more natural than it did without them. Not be a lot, but somewhat better. Unfortunately, once the real ones are gone, the manufactured versions are clearly not the same. But if you want to get the closest you can, it may be worth it.