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Ive used both and the only downfall with priceline is that if you use the 'name your price' option, you dont know what airline or what time youre going to get until after you pay. And if you need to change it they charge you $100. Travelocity and Expedia have done me pretty good too, and you can find some great last minute prices if you really look.
With priceline you want to make sure you have one extra day, in case they put you on a night time flight going out or early morning flight coming back. Ive used it twice and its okay but I prefer to plan my time rather than someone plan it for me.