They all have their drawbacks. I recently purchased an Android and honestly can't stand that I can't see whether I got an email, text, FB notification, etc. I find myself CONSTANTLY waking the phone up to see what notification I did get. The WP method of waking the phone up to display your notification is really productive. I hear there are apps that can accomplish this on the Android side but it's aggravating and I haven't found one that works appropriately.
I don't really think you need a flashing light when it will show you your exact text when it's received. Also, not sure it's really worth debating whether it's easier to pull down from the top to see a notification or just look at a live tile.
Add to that the annoyance of not knowing who texted you or what came through when you're playing a game on Android. It's amazing to see how much all of these OS' lack after all of these years.