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Pros: Easy to setup, time machine, dlna, web access, itunes server and user groups. There are many other features but these are the ones I have used.
Cons: Although this product has gigabit lan, the max speed you can get from it is around 40-45 MB/s. This is due to its 600mhz arm processor and 64mb of ram. Personally I could not get above 20-22 MB/s from server to nas and about 40 MB/s from nas to server.