Pros: Other than it's ability to be used in a wet environment, there are none.
Cons: The biggest con is the one pulled by the manufacturer of this camera. Video quality is abyssmal. Does not zoom smoothly. Still photo quality is subpar to an inexpensive cell phone. Cannot take still snaps while using video function. Sound quality is atrocious. Documentation is sketchy at best, and the camera will not function as a PC cam if you have a 64-bit OS.