You may as well ask about the Pros and Cons of living and dying... read on:
Do a search for "link between diabetes and liver disease". I suffer with NASH (non-alcoholic steato hepatitis or fatty liver) and have cirrhosis of the liver (diagnosed in August 2010) -- the consultant says it is very definitely linked to long-term T2 diabetes. Although the cirrhosis is compensated (retain fair levels of functions), the rate of deterioration could change suddenly and the only treatment would then be liver transplant or unpleasant death.
The problem with T2 is that you can have it for a long time before a proper diagnosis is done. Mine was confirmed in 2008 when I used to feel very thirsty and couldn't stop p'ing during the night -- my BG on the morning of diagnosis was 25, with HbA1c of 9.9. BUT, I could have been undiagnosed T2 for years before then and pre-diabetic even before that. I have been on Metformin for four years, but recently my HbA1c has dropped to 5.8 & GP has stopped prescribing meds but will monitor every three months.
I have regular blood tests to monitor both the diabetes & cirrhosis so a close eye is kept on the BGs, and even though I come away with lots of bruising where the needle goes in the arm (due to low platelet count, I think), if it helps to determine the kind of treatment I get, it's worth it.
This post isn't meant to frighten you, but please don't be complacent: I have learnt through personal experience that both diabetes and liver disease go hand-in-hand and liken them to silent and armed intruders wandering around your house while you sleep -- silent and deadly.
Visit your GP immediately and ask for fasting blood test for lipids, BG on the day, HbA1c and a full liver panel including GGT & eGFR -- the results and subsequent treatment (if there are any negatives) will guide you in determining how you live the rest of your life.
BTW, when I was composing the above text, I kept forgetting what I wanted to say. Apparently, I have "dirty" blood going to my brain and causing encephalopathy, which thankfully is reversible. Also, my short term memory and unusual sleep-patterns are creating havoc in my life.