Pros: Pretty good sound quality, especially given the cost. Many more expensive models fail to perform as well. Microphone is pretty sharp as well, under the right conditions. See cons.
Cons: The mic hangs a little below the top of the shoulder, and as such doesn't really get much unless you hold it directly in front of your mouth or get accustomed to talking into your shoulder. If you really bellowed, it would be audible to the other caller, but otherwise it will require a hand. But, if you've got it directly in front of your mouth, you can whisper or yell and it will come through very clearly.