In this work we address the advantages, limitations, and technical subtleties of employing FPGA-based digital servos for high-bandwidth feedback control of lasers in atomic, molecular, and optical (AMO) physics experiments. Specifically, we provide the results of benchmark performance tests in experimental setups including noise, bandwidth, and dynamic range for two digital servos built with low and mid-range priced FPGA development platforms. The digital servo results are compared to results obtained from a commercially available state-of-the-art analog servo using the same plant for control (intensity stabilization). The digital servos have feedback bandwidths of 2.5 MHz, limited by the total signal latency, and we demonstrate improvements beyond the transfer function offered by the analog servo including a three pole filter and a two pole filter with phase compensation to suppress resonances. We also discuss limitations of our FPGA-servo implementation and general considerations when designing and using digital servos.