There are the pro's and cons. ButI find religious kids grow up thinking they are better than others. They have been blessed by god. They have not been misled like the others, they are not on the wrong path. They have a special place in god's heart.
You give precedence to people of your faith. You feel for those in the ummah if something bad should happen but turn a blind eye to those outside of it. You call people by names such as infidels, kuffar, cow-worshippers which demeans a significant portion of humanity.
The religious do tend to encourage more morals than the irreligious. But sometimes those morals can lead to extremes such as honor killings.
In the long run it can be more unhealthy depending on the level of religious indoctrination.
I agree with everything you said. However, I would like to discuss the isseu of morality in a different way.
Yes, all religions try to inforce different levels of marality. But the question is, what is the result? Are religious people more moral people compared to non-religious or the secular ones?
All main stream religions, including Islam and Christianity, have tried to establish this as a standard that the believers have morality and nonbelieveres are without any moral standards. Even US film industry has tried to spread this notion that nonbelievers are immoral people.
The truth is that people with secular ideology have been demonstrating higher levels or morality. Nonbelievers (infidels, like us) commit any immoral act only due to a circumstantial need. We live a simpler life, without involving religious complication. Our way of life is closer to the way nature intended it to be.
On the other hand religious people live complicated lives. Religion brings more stress. That stress leads them to do do immoral acts in the name of religion. I do not have to go in details of the immoral destructions religions have caused in last 2000 years.
Religious people people also commit immoral acts as a way of outlet. When small pleasures are barred by religions, religious people resort to molesting children in churches and mosques. (And many other things, which I don't have to list here).
Religious people carry more hate inside them compared to nonreligious liberal people.