Pros
Work from home around your own schedule, you get to choose what files you work on, you can preview file before claiming the job, paid every week via Paypal - they don't take out fees though so I'm not sure why people are saying this. Maybe that's how it used to be and they changed it. All I know is what gets paid to my Paypal is exactly what was earned. It's not everyday you can apply for work online, do a simple test and start working and get paid so easily. It takes a few under your belt to get the hang of it but once you do, you'll be faster and better and can move up to editor for higher pay which is my goal.
Cons
The only thing I can think of is sometimes it's difficult to find good audio files. Sometimes people are on there snatching up those jobs left and right and once in a while there will be times where you feel like there's not one file available that you can do (without getting a poor rating so why risk). This isn't the norm, however. Usually there are pretty good files on there. Once you do some and get good ratings it seems more become available or you have access to files that weren't visible to you before. Like what happens when you do a red or blue file (difficult audios usually).