Monarchy or republic?

Do the costs of the monarchy outweigh the benefits? Or vice versa? Our starting position is that the reasons for abolishing the monarchy are not strong enough to justify throwing away part of our culture and history.

It isn't enough just to come up with reasons why a monarchy is undemocratic or doesn't suit you for other reasons. To justify changing it, you would need to show that the negative impacts outweigh the positive impacts, and that a republican (or other) system would not have just as many faults. It's not just about the disadvantages of the monarchy, but about the virtues of the alternatives.