Cross drilled rotors don't necessarily make the rotors or pads last longer. Your driving style will dictate that. Cross drilled rotor allows the gases that built up between the rotor and the pads to escape more quick, as well as reduce warping by cooling the rotor more efficiently. They also are allow for better traction during rainy conditions.

The downside to cross drilled rotors are that you usually have to replace them every time you change pads since these type of rotors can not be turned. In addition, so people complain about the noise that they make. They are not as quiet as your typical factory system. With the holes in the rotors, you will hear some wind noise, not much, and only at low speeds.

Something else to note, if you are used to buying oem rotors at the dealer, you will find that cross drilled rotors are actually cheaper if you shop around.

All in all, if you equip your vehicle with cross drilled rotors with the right type of pad, you can have a every effective stopping machine, much better then oem.