CNAME setup process ignored!

I can’t think of anything that would be degraded in a CNAME setup. Assuming you import all of your DNS settings from your current setup into Cloudflare performance will be better in every way.

By far our preference for customers is that they use a full setup vs. a CNAME setup. The only times we recommend a customer use a CNAME setup are:
a. When using a partner who autoenables it when they use Cloudflare w/ 1 click enablement (and only then when they are not tech savvy enough to change their nameservers with their registrar).
b. When they have made significant investment in automation of their DNS management and making a change to Cloudflare for DNS is not possible because they can’t afford to retool (at least in the short term).
c. When they are putting a small portion of a larger org on Cloudflare and it is difficult politically to justify moving all of the customer’s DNS for a marketing site (for example).

Beyond that, I always recommend Cloudflare in a full setup. It makes SSL renewals seamless, provides the fastest DNS service of any major DNS provider http://www.dnsperf.com and protects DNS against DDoS attacks.