Pros...
It keeps good time (obviously the first requirement for a watch, right?)
It looks good.
The band feels secure and doesnt get caught on stuff.
It's cheap! (dollar wise, not quality wise)

Cons...
It's smaller than I would've thought. I suppose I should have read the description better, but, I have big hands and this is definitely noticeably smaller than I'm used to.
I don't like cloth bands in general, but this one isn't bad as far as they go. Compared to other cloth or rubber bands, this entire band is velcro, so the entire thing sticks down flat. There's no loose bit at the end that flaps up and catches on stuff. Nice touch...  Still, I think I'll be switching the band out for a metal one soon, just personal preference.

Overall, very good product. It's not going to be mistaken for a Rolex anytime soon, but then, that's not why you buy a $20 watch is it?