I miss those cool cutscenes too but that's another matter entirely :P Inquisitors are eterna agents and can't be killed in their line of work. Of course assassins can take them out. They do get valour however and sometimes kill lowly assassins but arn't the equivilent of general.
Cardinals, orthodox Bishops and their muslim equivalent are the super priests and convert at much faster rate. They can bring a captured province or one that you want to capture into line much faster than normal thus saving you aggravation. Also the Cathedral gives +3 moral but I don't know if its cumulative with the monastery or relinquery, or church for that matter. What sucks about that is that any province with that bonus is one you likely want to produce soldiers at.
Why not only make graninquisitors when you're able? I don't see any benefit to the normal ones over them.
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