Pros:
-great, cheaper alternative to Uggs (I got mine during holiday discount for about $40, compared to the usual $150 and up for Uggs)
-comfortable, felt like slippers
-fit was perfect.  I usually wear a size 7 and ordered that size, and it fit perfectly.  Some reviewers have complained that it's too tight around the calves/ankles and I thought they fit fine (and I have muscular, thick legs!)  I think as along as you don't have cankles you should be fine

Cons:
-not for slippery situations, bad traction
-the lining/fleece does seem to shed easily (I sometimes find the inner parts come out attached to my socks!)
-easy to accumulate scuff/scratch marks on the exterior