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Pros: Once setup, the NAS is awesome. Fast file transfer for a home device, easy migration to larger drives and from plain disks to RAID 1. UI is ugly but it gets the job done. Lots of useful addons as well.
You can also set it up so that you can SSH into the NAS and basically use it as a Linux box.
Only this doesn't get 5 eggs is the setup.
Cons: Huge pain to get this thing configured. I put an unclean drive into the NAS and the thing wouldn't even boot the web interface. I had to dig around on the net to figure out how to force the device to format the drive.
After getting the web UI up, my 3TB drive showed up as only 700GB. A firmware update and another forced format later I had my full 3TB available and everything works great.