The VB.NET 'With' Statement - embrace or avoid?

At work, I'm frequently working on projects where numerous properties of certain objects have to be set during their construction or early during their lifetime. For the sake of convenience and readability, I often use the With statement to set these properties. I find that

With Me.Elements
    .PropertyA = True
    .PropertyB = "Inactive"
    ' And so on for several more lines
End With

Looks much better than

Me.Elements.PropertyA = True
Me.Elements.PropertyB = "Inactive"
' And so on for several more lines

for very long statements that simply set properties.

I've noticed that there are some issues with using With while debugging; however, I was wondering if there were any compelling reasons to avoid using With in practice? I've always assumed the code generated via the compiler for the above two cases is basically the same which is why I've always chosen to write what I feel to be more readable.