cwooten...
(unless you have already been there...)start with this thread that I started: Drain & valve thread
Your question is very current for me; I just finished installing a PVC pipe drain and valve a week ago. You will get pro's and con's from this forum about drain pipes until the cows come home. I am in no position to make a recommendation...too new for me (but my decision is obvious).
I will point out one thing, tho, that I believe many people overlook when dealing with PVC pipe. Schedule 40 guarantees certain dimensions and tolerances. It does not guarantee pressure rating. The ASTM specification will indicate the pressure rating. Alot of the PVC pipe that comes from the home centers is DWV rated. It may not meet the higher pressure quality rating. My pipes were printed with "DWV", but they also included the ASTM spec's (3 of them). When I contacted the manufacturer, Charlotte Pipe, their tech guru told me that the 3 diff ASTM spec's cover: 1) DWV 2)Pressure 160 psi 3) Well casing In other words, this pipe will meet all 3 ASTM standards for each prescribed application. He noted that some pipe will not...can vary from production lot to lot, mfgr to mfgr. The fittings are the same.