Some of the advantages SharpDevelop IDE are
1.totally free and open source
2. Support for Microsoft .NET and Mono language compilers
3.Visual designer support for Windows Forms applications
4.Support for the forthcoming (at the time of this article) Windows Presentation Foundation UI toolkit
5.Integration with several popular open source .NET development tools (nant, ndoc, nunit, etc)
6.IntelliSense, code completion and code snippet technologies

But this IDE has so many bugs that needs to be fixed.But I can assure you that this is one of the developing tool under development.In future ,it might be an exiting technology to work with..

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Sathish Kumar.R
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