What are the main advantages and disadvantages of the First-Past-the-Post electoral system?

Single member plurality, known in the UK as First-Past-The-Post (FPTP), is a plurality electoral system under which each constituency elects one member of parliament, that is that who gets the most votes (=plurality of votes). For instance, in the UK there are 650 parliamentary constituencies which yield exactly 650 members of parliament (MPs). The main advantages of FPTP are: it is very straight-forward for voters to understand, it creates clear link between MPs and citizens thus theoretically keeping parliament linked to the country, it produces, generally, strong and stable government. However, it also has many disadvantages: winner can get elected on a low percentage of votes (it actually depends on turnout), it leads to voters ‘wasting’ votes, in the sense that from a rational perspective there is no point in voting for a very small party whose chances to win are very low, thus it encourages ‘tactical’ voting, that is people are going to vote for the party which, according to them, has the greatest chance to obtain the plurality of votes, it keeps minority parties out of parliament, but it does not prevent a multi-party system