Pros: great little device, mega small, but has more than enough processing power to run most of my games and watch hd movies on without much trouble. I own two of them, one is hooked up to a bigscreen tv that runs openelec and I can stream movies and tv shows to the tv whenever I want to, and the other, I use as a full desktop computer/web server/torrent server since it's so power efficient. I also use the second one most of the time with my electronics stuff too since if you get into it deep enough and are into microcontrollers, you can actually program the GPIO pins on the raspberry pi to do almost anything you want, just keep an eye on the incoming voltages. It's like a small desktop computer and an arduino put together, but on steroids. To power it, it doesnt use much power at all. I just use these old HTC cell phone wall chargers to power them and the power usage on them are mega low, so they're good for cheap low powered servers.

Cons: doesnt come with power cord, which you can use any 5v, 1A cell phone charger that you have laying around.