I am not an expert, but would like to share what I know...
When a subject is closer then the minimum focusing distance of a lens, this means that the lens is not able to focus the image onto the film plane, but the image is instead focused onto a plane that is behind the film plane.
There are 2 ways to get around this.
1. Use a closeup filter. This bends the light rays before they enter the lens, to enable the lens to focus the image onto the film plane.
2. Move the lens further away from the film plane, so that the image is now focused on the film plane. This is achieved by using an extension tube.
The pros and cons, in my opionion, are:
1. Closeup filters are more convenient to use than extension tubes.
2. Closeup filters are generally cheaper than extension tubes.
3. Close up filters are smaller and lighter than extension tubes.
So what's so good about extension tubes? My guess is that when you use close up filters, you are adding more glass in the optical path, thus degradation of the image quality.
When you use extension tube, you are simply adding more air into the optical path, which in theory should not degrade the image.
Some teleconverters have removable optical elements, such that they can also function as an extension tube with the optical element removed.
- Roy