What's wrong with Globals?

[Joe Lewis Wilkins]

Please enlighten me. With HC I never really had any problem using  
Globals pretty extensively. I know all of the "old" adverse thoughts  
and how it was felt to be bad programming practice; and, perhaps,  
before we could have some pretty long vars, maybe it was tough coming  
up with names that didn't create conflicts, but I think we're past  
all of that now. So... why is using Custom Properties any better than  
using globals. I need to be convinces. I suspect a few of you have  
first hand experience and I'd like to hear them.

TIA,

Joe Wilkins