do etfs deserve a place in the portfolio?

Hi All,

Vanguard proclaim they are the ducks guts of the ETF Area.
fees here are .o9%

Cons
There is not much volume or value being traded.
High price at $60 plus per share.
how much growth? 12 months 59 to $68 therefore plus 15%
NO liquidy Comsec shows only one buyer 600 units at $66
Market Cap at $23 Mill
Dividends not franked
Au Dollars goes up this will devalue the position


Pros

returned 8% for last 3 months
Divi 26 cents
Au Dollar falls this will Add value
Low fees
buy/sell via a broker