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Pros: lots of storage at a reasonable price
Cons: 1 year warranty
Other Thoughts: I don't own this drive, and I never will. My experience has been that hard drives (and most of mine have been Seagate's) often do not outlast their warranty by much. I can't see any point in entrusting your data to a device that its manufacturer expects to last for only a year.
Even if the price were much better than other drives (which at least at the moment it is not), who wants to have to restore 3TB of data from backups every 13 months? Not me. I will buy a drive that is designed to last, as shown by its manufacturer's willingness to replace it if it does not.