The health benefits of breastfeeding are documented, and exist for both child and mother. A happier, healthier mother is over the long run an advantage to a child on top of the benefits they get from breastfeeding. There is also an emotional connection children can grow well with in breastfeeding the bottle feeding can not ever provide.
I believe that breastfeeding is better for children than the formula you buy from the store. I do not think that a store bought product can be better for a child than what they are supposed to naturally be eating. I believe there is a lot of research supporting this as well.
Breastfeeding can provide a great deal of benefits. Many people believe that breastfeeding your child for as long as possible can help them to develop more efficiently into better people. It can help them to learn better, and faster. There is not often science behind it, but some people swear by it.
It is my opinion that breastfeeding is ultimately better for children. Some babies cannot drink their mother's milk for various reasons, and end up being fed formula instead of breast milk. These children often have a weaker disposition than their naturally fed counterparts. Formula does not contain as much nutritional value as breast milk.