What are the advantages to inflating your tires with nitrogen gas rather than compressed air?

An exerpt from the man Cecil Adams at The Straight Dope. Oh, there are plenty of benefits: (1) Cool fluorescent green valve stem caps (assuming your nitrogen vendor has any marketing savvy), which will look sharp with your spinning wheel covers. (2) Bragging rights. OK, you were behind the curve with cell phones, iPods, thong underwear, etc. Nitrogen in tires is relatively new to the mass market. Now's your chance. (3) Reduced fire danger next time you land your space shuttle or commercial aircraft, and tell me you won't sleep better knowing that. Most tires are filled with compressed air, which when dry consists of about 78 percent nitrogen, 21 percent oxygen, and 1 percent other gases by volume. Water vapor (humidity) can make up as much as 5 percent of the volume of air under worst-case conditions. Filling your tires with nitrogen mainly does two things: it eliminates moisture, and it replaces skinny oxygen molecules with fat nitrogen molecules, reducing the rate at which ...  more