Lots of Pro's and Cons
This is an much-debated topic. I like to lay the floor down before, but that's just me.
If you do it before, you don't have to worry about the edges lifting where they meet the cabinets (personally, I think 1/4 round at the cabinet looks like crap).
If you do it after, you don't have to worry about how the pattern lines up or doesn't line up with the cabinets (1/4" of tile sticking out looks pretty stupid, too).
If you do it before, you don't have to deal with all the cutting where the stove & fridge go, and whether there's clearance for 1/4 round (see above).
If you do it after, you don't have to worry about messing up your new floor with the cabinets.
If you do it before, it's easier change things, later (this applies more to ceramic tile, than your situation)
If you do it after, you already know exactly where your cabinets are going to wind up, and you can lay out the pattern to fit. (Oops, I already said that; just trying to keep things even!)
My main reason for doing it before, is that I'd rather have the whole floor be on the same level, and protected by the finish flooring. If you ever get a leak (and you will), the cabinets aren't sitting in a low spot, soaking in the pudddle. And they won't be hiding the puddle from view; the water will run out from underneath so you'll know about the leak.
I think that about covers it, but I'm probably missing a few