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Pros: Never got it to work so hard to say. If it worked this would be a great device.
Cons: Basically, if the device you are trying to use this for can't be configure for static IP, as is the case for me, then it will not work. I spent 3 hours trying to get it to assign an IP to my laptop and it never did. I did go in to /menu.asp which gives you a lot more options but I suspect those options don't actually have any effect. In LAN I tried DHCP client and server but the behavior never changed. If I assigned an IP manually then it worked.