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Pros: Easy set up - plug into the wall and connect the WAP or other device and up in running less than 5 minutes. Receiving almost the same performance on the WAP that is connected to the Actiontec as I do on the direct broadband connection. Had one of the devices fail after 6 months and was quickly replaced by Actiontec.
Cons: Haven't found any to date
Other Thoughts: This is a great alternative to running Ethernet cable. Usually less expensive and provides a lot of flexibility on locating you end devices. Quality solution.